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
Gold prices jumped to a fresh six-year high on Monday as the announcement of new tariffs in the escalating Sino-U.S. trade war sent equity markets tumbling, and investors rushing for safe-haven assets.
Spot gold jumped 1.2% to $1,544 per ounce as of 0141 GMT, having earlier touched $1,554.56 an ounce, its highest since April 2013.
U.S. gold futures were up 1.1% at $1,554.90 an ounce.
On Friday, U.S. President Donald Trump announced a 5% additional duty on $550 billion in targeted Chinese...
Japanese shares shed more than 2% on Monday, with China-related firms leading the losses after a fresh escalation in the Sino-U.S. trade war knocked global equities markets.
The Nikkei share average fell as much as 2.6% to 20,173.76, its lowest level since Aug. 6, before ending the morning session at 20,258.92, 2.2% lower on the day.
China on Friday imposed tariffs on about $75 billion in imports from the United States including some agricultural products, crude oil and small...
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...