Asian share markets dip on US-China trade worries

Published: October 02, 2018 11:07:33 | Updated: October 04, 2018 12:32:11

File Photo (Collected)

Asian shares slipped on Tuesday as relief that the United States had brokered a trade deal with Canada gave way to concerns that negotiations with China were at a standstill.

Japan's benchmark Nikkei 225 gained 0.2 per cent to 24,294.43. Hong Kong's Hang Seng tumbled 1.6 per cent to 27,333.36. Australia's S&P/ASX 200 lost 0.7 per cent to 6,130.20.

South Korea's Kospi lost 0.7 per cent to 2,322.58. Markets in the Chinese mainland were closed for a week-long holiday, reports AP.

Wall Street advanced after the US and Canada agreed to a new trade deal, but the rally fizzled, leaving major indexes mixed on Monday. The S&P 500 index added 0.4 per cent to 2,924.59.

The Nasdaq composite fell 0.1 per cent to 8,037.30, while the Dow Jones Industrial Average jumped 0.7 per cent to 26,651.21.

The Russell 2000 index of smaller-company stocks gave up 1.4 per cent to 1,672.99, its worst loss since late June.

Benchmark US crude added 24 cents to $75.54. The contract climbed 2.8 percent to $75.30 a barrel in New York on Monday, its highest price since November 2014.

Brent crude, used to price international oils, added 3 cents to $85.01 per barrel in London. It was also trading at four-year highs, after adding 2.7 per cent to $84.98 per barrel in London.

The dollar weakened to 113.94 yen from 113.92 yen on Monday. The euro fell to $1.1572 from $1.1575. The Canadian dollar rose to $1.2805 from $1.2787.

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