The yen surged on Monday as investors flocked to safe-haven assets after a sharp re-escalation in the U.S.-China trade war, which whacked investor confidence and darkened the global economic outlook.
The yuan also tumbled in offshore trade, weighed by expectations of a deeper slowdown in China as the world™s two-largest economies exchanged barbs over trade.
The Swiss franc and gold, two assets sought during times of heightened risk aversion, shot up in early Asian trade.
The yen surged to...
Tokyo's key Nikkei index plunged as much as 2.6 percent at the open on Monday as the yen surged against the dollar on escalating US-China trade tensions.
The Nikkei 225 was down 2.56 percent, or 529.86 points, to 20,181.05 in early trade, while the broader Topix index lost 2.45 percent, or 36.78 points, to 1,465.47.
Source : AFP
Asian shares were a sea of red on Monday as the latest salvo in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbors of sovereign bonds, gold and the Japanese yen.
Yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016, while gold hit its highest since April 2013 as risk was shunned.
The Chinese yuan also came under pressure, with the dollar quoted up at 7.1710 and markets braced for more intervention from...
Hong Kong stocks dived more than three percent in the first few minutes of business Monday after Donald Trump ramped up his trade row with China, while the city was hit by fresh violent protests over the weekend.
The Hang Seng Index dived 3.27 percent, or 857.33 points, to 25,322.00 at the open.
India™s former finance minister, Arun Jaitley, died Saturday in a New Delhi hospital months after he stepped away from the job due to deteriorating health.
A close associate of Prime Minister Narendra Modi, the 66-year-old Jaitley was credited with steering landmark economic reform that helped create a single market in India for the first time since the country™s independence in 1947.
It was also under his watch that Modi announced his controversial decision to scrap 86 percent of...