Investors watched the latest developments warily in the trade war between the world's top two economies, after negotiations in Washington ended Friday without agreement and a tariff hike on Chinese imports went into effect. Almost all Asian markets were lower as the week's trading began, with Tokyo's benchmark Nikkei 225 index closing down 0.7 percent. Shanghai was down 1.2 per cent, Singapore shed one per cent, while Taiwan and Seoul both dropped 1.4 per cent. White House economic advisor Larry Kudlow said US President Donald Trump and China's Xi Jinping could meet next month on the sidelines of the G20 summit to hash out their differences on trade -- but no new talks are yet scheduled. With another round ending without a deal, markets are underpricing how long the US-China trade talks may drag on, Eleanor Creagh, a Sydney-based Australia market strategist at Saxo Capital Markets, … [Read more...] about Lack of US-China trade deal weighs on Asian markets
Tech trader
Global markets cautious after trade tensions buffet stocks
/https://www.thestar.com/content/dam/thestar/uploads/2019/05/07/afp-1c50hb-0.jpg)
By Corrie Driebusch WSJ Will Horner WSJ Tues., May 7, 2019 U.S. stock declines deepened Tuesday, with the Dow Jones Industrial Average falling more than 500 points, as investors reacted to a growing likelihood that the White House will follow through on threats to enact tariffs on Chinese goods later this week. The latest volatile reaction to the threats hit shares of trade-exposed companies, including chip makers and retailers that rely on sales from China, and concerns that new tariffs could weaken demand for oil sent energy prices and companies lower. The Dow industrials dropped nearly 550 points, or 2.1%, to 25889, while the S&P 500 fell 2% and the tech-heavy Nasdaq Composite lost 2.3%. Tech companies were among the biggest laggards, as they stand to be hurt by weakened sales in China, a country in which they do much of their business. Companies that manufacture products in China also stand to see their costs rise. Semiconductor companies in particular … [Read more...] about Global markets cautious after trade tensions buffet stocks
European stocks tumble as Trump threatens China tariffs
PARIS: President Donald Trump sent global stock markets tumbling on Monday (May 6) by threatening to hike tariffs on US$200 billion of Chinese goods to force the pace in stuttering trade talks between the economic superpowers.Equities in Asia, Europe and the US were a sea of red as Trump's remarks rekindled fears of a trade war with potentially devastating consequences for world growth."For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump tweeted on Sunday night. "The 10% will go up to 25% on Friday."Many markets, however, pared early steep losses as analysts suggested that Trump was playing a game of brinkmanship and would ultimately save ongoing trade talks.The Dow Jones index, which fell by over 400 points at the opening bell, had clawed back more than half of that loss by the late New York morning.Eurozone stocks were also in better shape at the end of the European trading day … [Read more...] about European stocks tumble as Trump threatens China tariffs
Komtar will still be restored, even if gov’t moves out
GEORGE TOWN: Efforts to restore Komtar to its former glory will continue even if the Penang state government moves its administration elsewhere. Penang Chief Minister Chow Kon Yeow said the state government would ensure that the 69-storey building - the tallest in the northern region of Peninsular Malaysia - retained its position as a centre for commerce, trade and transport. “The rejuvenation of Komtar is an ongoing process. We want to bring back the glory days of the 1980s and 1990s when Komtar was the premium retail centre,” he said at the launching of the Komtar carnival here yesterday - a three-day fest that will showcase e-sport gaming competitions, an IT sale and marvellous food. Chow was responding to a proposal by Yang DiPertua Negri Tun Dr Abdul Rahman Abbas to relocate the state administration offices and the state assembly building to another location. Rahman, who spoke at the opening of the state assembly sitting last week, pointed out that the current … [Read more...] about Komtar will still be restored, even if gov’t moves out
Before raid, ‘seasteaders’ planned floating resort off Thailand
BANGKOK: The 6-metre wide floating cabin that was home to an American bitcoin trader and his Thai girlfriend was supposed to launch a village of buoy-based homes in international waters.That was until the Thai navy came along.Chad Elwartowski and Supranee Thepdet lived for about two months in the cabin hailed as the "first seastead" by the group Ocean Builders. They envisioned a community that would include an underwater resort and restaurant off the coast of Thailand.Advocates say floating communities in international waters offer a way to explore alternative societies and governments beyond the borders of countries.It's a concept that has been around for more than a decade, but the couple were the first to actually live on one."I just want to make seasteading happen for real. I want to make it happen here in Thailand," Supranee said in a YouTube video to mark the launch of the cabin attached to a floating, weighted spar anchored to the sea bed to reduce the effect of waves.On Apr 13, … [Read more...] about Before raid, ‘seasteaders’ planned floating resort off Thailand