Asian shares lower on US-China trade worries  

Published: September 25, 2018 12:47:51 | Updated: September 26, 2018 14:17:15


File Photo (Collected)

Asian shares fell on Tuesday after a Chinese government report accusing the Trump administration of bullying other countries dampened hopes for a settlement in their escalating tariff war.

The Shanghai Composite Index lost 0.8 per cent to 2,775.91 and Sydney's S&P-ASX 200 shed 0.1 per cent to 6,180.10. Tokyo's Nikkei 225 advanced 0.1 per cent to 23,900.57.

Hong Kong and Seoul were closed for holidays. Benchmarks in New Zealand, Malaysia and the Philippines retreated while Taiwan and Singapore advanced, reports AP.

The S&P 500 index lost 0.4 per cent to 2,919.37. The Dow Jones Industrial Average lost 0.7 per cent to 26,562.05. Both the S&P 500 and Dow set record highs last week.

General Electric dropped 3.5 per cent and 3M declined 1.3 per cent.

Benchmark US crude gained 13 cents to $72.21 per barrel in electronic trading on the New York Mercantile Exchange. The contract advanced $1.30 on Monday to close at $72.08.

Brent crude, used to price international oils, rose 13 cents to $80.59 per barrel in London. It jumped $2.29 the previous session to $80.53.

The dollar gained to 112.81 yen from Monday's 112.79 yen. The euro declined to $1.1740 from $1.1749.

 

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