Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
2-min read

Asian Markets Cautious After G7 Debacle, Eyes on Trump-Kim Summit

All eyes are now on Singapore, with the leaders of North Korea and the United States due to meet for the first time in history, with Pyongyang's nuclear programme top of the agenda.

AFP

Updated:June 11, 2018, 10:01 AM IST
facebookTwitterskypewhatsapp
Asian Markets Cautious After G7 Debacle, Eyes on Trump-Kim Summit
Representative Image (Image: Reuters)
Loading...

Hong Kong/China: Asian markets fluctuated Monday after the Group of Seven meeting ended with deep divisions between the US and its allies, while investors are looking ahead to Donald Trump's summit with North Korean leader Kim Jong Un.

While the historic gathering in Singapore is the big story of the week, key central bank decisions in the US and Europe will also be closely followed.

Trump pulled out of endorsing a joint communique after the G7 meet finished on Saturday in a row over trade, accusing the summit's chairman, Canadian Prime Minister Justin Trudeau, of dishonesty.

The shock decision followed a testy gathering in Quebec, where the US president came under fire for his "America First" protectionist drive that has fuelled fears of a global trade war.

He had left early for Singapore, only to take exception to comments by Trudeau at a news conference.

"One thing that we do know for sure is the president’s uncontrollable need to defend his status is more apparent than any strategy when (it) comes to bilateral trade negotiations," said Stephen Innes, head of Asia-Pacific trade at OANDA.

"But, the far from harmonious Quebec summit confirmed deep-seated G6+1's expanding policy fissures on a plethora of significant concerns including climate change, the Iran nuclear deal and, of course, trade."

"While expectations were not exactly high going into the meeting, the result was a bit worse than even the markets' dismal presuppositions."

FED, ECB IN FOCUS

Tokyo ended the morning session 0.3 percent up, Hong Kong added 0.2 percent and Seoul also gained 0.3 percent.

Shanghai dipped 0.3 percent and Singapore was slightly lower, while Wellington, Taipei and Manila were also down.

Sydney was closed for a public holiday.

All eyes are now on Singapore, with the leaders of North Korea and the United States due to meet for the first time in history, with Pyongyang's nuclear programme top of the agenda.

Tai Hui, JP Morgan Asset Management chief market strategist for Asia-Pacific, said in a note: "Although the... summit in Singapore is capturing public attention, the direct impact on markets is likely to be limited."

"Ongoing dialogue between Washington and Pyongyang is positive, since this implies military action is on hold, limiting any economic implication for South Korea and surrounding region. Investors will hope to see steady progress with opportunities for more discussion in coming months."

This week is also expected to see the Federal Reserve lift interest rates again, and traders will be poring over its post-meeting statement for an idea about future moves.

That will be followed by the European Central Bank's latest gathering, which could see policymakers discuss winding down its crisis-era stimulus programme.​

| Edited by: Huma Tabassum
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Bank 2,263.50 -1.47
Yes Bank 90.65 -0.55
Reliance 1,273.55 -0.54
Kotak Mahindra 1,494.00 2.73
HDFC 2,138.50 -2.21
Company Price Change %Gain
Yes Bank 90.70 -0.49
Reliance 1,272.85 -0.60
Bajaj Finance 3,275.45 0.83
Maruti Suzuki 5,875.35 -0.62
HDFC Bank 2,263.95 -1.44
Top Gainers
Company Price Change %Gain
Power Grid Corp 210.45 3.11
Kotak Mahindra 1,494.00 2.73
Hero Motocorp 2,469.30 2.73
ITC 270.65 2.36
Asian Paints 1,429.35 1.79
Company Price Change %Gain
Power Grid Corp 210.40 3.14
Kotak Mahindra 1,493.70 2.76
Hero Motocorp 2,469.30 2.68
ITC 270.70 2.38
Asian Paints 1,428.35 1.78
Top Losers
Company Price Change %Gain
SBI 342.20 -2.47
Indiabulls Hsg 640.55 -2.34
HDFC 2,138.50 -2.21
Adani Ports 399.75 -1.83
Bajaj Auto 2,523.85 -1.52
Company Price Change %Gain
SBI 342.05 -2.49
HDFC 2,137.65 -2.24
Coal India 218.00 -1.45
HDFC Bank 2,263.95 -1.44
Bajaj Auto 2,524.95 -1.43

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results