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Asian markets end in red on global worries

16 Aug 2018 Evaluate

All the Asian markets ended in red terrain on Thursday amid worries about Turkey’s financial crisis. However, markets pared most of their losses to end off their day's lows after China said it has accepted an invitation from the U.S. for a new round of trade talks to be held in late August. China's Ministry of Commerce said that a Chinese delegation led by vice commerce minister Wang Shouwen will travel to the U.S. in late August for trade talks to be held with the US under Secretary of Treasury for International Affairs David Malpass. Traders also took some relief with report that in another development, the United States ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor.

Meanwhile, Japanese benchmarks ended lower after a government report showed that Japan posted a merchandise trade deficit of 231.2 billion yen in July. That was shy of expectations for a shortfall of 41.2 billion yen following the downwardly revised 720.8 billion yen surplus in June. Exports were up 3.9 percent from a year earlier while imports surged an annual 14.6 percent. Chinese shares also ended in red for a fourth straight session on concerns about slowing growth.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,705.97

-17.29

-0.64

Hang Seng

27,100.06

-223.53

-0.82

Jakarta Composite

5,783.80

-32.79

-0.57

KLSE Composite

1,777.27

-0.8.67

-0.49

Nikkei 225

22,192.04

-12.18

-0.05

Straits Times

3,211.93

-22.19

-0.69

KOSPI Composite

2,240.80

-18.11

-0.81

Taiwan Weighted

10,683.90

-32.85

-0.31

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