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June 4, 2019, 9:10 a.m. EDT

Asian markets mostly fall as investors mull trade war, potential rate cut by Fed

Aussie stocks modestly higher after central bank cuts interest rates

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By Associated Press and Marketwatch


Bloomberg News
Members of the People's Armed Police walk past the National Museum of China at Tiananmen Square in Beijing, ahead of the 30th anniversary of the crackdown on pro-democracy demonstrators.

Asian markets mostly retreated in cautious trading Tuesday, as global trade tensions continued and suggestions of a Federal Reserve interest-rate cut percolated.

Mexico sent officials to Washington on Monday to discuss potential U.S. tariffs and migration, and warned that the escalating tariffs that President Donald Trump has threatened would hurt the economies of both countries. Meanwhile, U.S. officials said China has not been telling the truth about why trade talks broke down, and blamed China for backtracking on promises that had been made.

St. Louis Fed President James Bullard said Monday that interest rates may have to be cut soon because of low inflation and the trade war’s threat to the economy. Some forecasters now expect as many as two rate cuts by the end of the year.

Wall Street was mixed, with the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.95%   closing up slightly, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.39%   and Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -0.83%   fell.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.18% finished flat, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.48%  fell 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.32%  closed down 0.9%and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -1.17%   sank 1.4%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.83%   was about flat, while stocks rose 0.5% in Singapore /zigman2/quotes/210597985/delayed SG:STI -0.38%   and fell 0.7% in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.06%  .

Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.28%  finished 0.2% higher after the Reserve Bank of Australia cut its benchmark interest rate by a quarter of a percentage point to 1.25%, becoming the largest developed economy to cut interest rates in 2019.

It was the first cut in borrowing costs in nearly three years for the bank, and Gov. Philip Lowe said the risks from trade disputes have increased.

The move comes as market participants grow more convinced that the Federal Reserve will likely to cut rates later this year and follows a string of reductions by neighboring Asia-Pacific nations.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.09%   sank again in Tokyo trading, as did Nintendo /zigman2/quotes/208063194/delayed JP:7974 -1.15%   and Sony /zigman2/quotes/201361720/delayed JP:6758 -0.94%  . In Hong Kong, Sands China /zigman2/quotes/207609245/delayed HK:1928 -0.95%   and Tencent /zigman2/quotes/204605823/delayed HK:700 0.00%   fell. Samsung /zigman2/quotes/209800866/delayed KR:005930 -1.19%   retreated in South Korea, and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -0.17%   declined in Taiwan. BHP /zigman2/quotes/201448516/delayed AU:BHP +0.23%  , Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -0.17%   and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -0.43%   rallied in Australia.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,770.20
-255.68 -0.95%
Volume: 293.61M
Oct. 18, 2019 5:08p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,986.20
-11.75 -0.39%
Volume: 1.99B
Oct. 18, 2019 5:08p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
8,089.54
-67.31 -0.83%
Volume: 1.82M
Oct. 18, 2019 5:16p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
22,492.68
+40.82 +0.18%
Volume: 0.00
Oct. 18, 2019 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,719.58
-128.91 -0.48%
Volume: 1.54M
Oct. 18, 2019 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,938.14
-39.19 -1.32%
Volume: 15.00B
Oct. 18, 2019 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,616.72
-19.20 -1.17%
Volume: 23.80B
Oct. 18, 2019 3:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,060.69
-17.25 -0.83%
Volume: 516,687
Oct. 18, 2019 6:03p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,114.16
-11.98 -0.38%
Volume: 0.00
Oct. 18, 2019 5:20p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
11,180.22
-6.66 -0.06%
Volume: 0.00
Oct. 18, 2019 1:31p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,631.20
-18.50 -0.28%
Volume: 72,421
Oct. 21, 2019 10:43a
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,299.00
+4.00 +0.09%
Volume: 8.70M
Oct. 18, 2019 3:00p
P/E Ratio
4.21
Dividend Yield
1.02%
Market Cap
¥8901.82 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/208063194/delayed
JP : Japan: Tokyo
¥ 38,610.00
-450.00 -1.15%
Volume: 1.42M
Oct. 18, 2019 3:00p
P/E Ratio
25.74
Dividend Yield
1.97%
Market Cap
¥4599.40 billion
Rev. per Employee
¥217.41M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 6,449.00
-61.00 -0.94%
Volume: 4.65M
Oct. 18, 2019 3:00p
P/E Ratio
9.90
Dividend Yield
0.62%
Market Cap
¥8040.64 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/207609245/delayed
HK : Hong Kong
HK$ 36.65
-0.35 -0.95%
Volume: 6.12M
Oct. 18, 2019 4:08p
P/E Ratio
19.26
Dividend Yield
5.43%
Market Cap
HK$296.40 billion
Rev. per Employee
HK$1.41M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 331.00
0.00 0.00%
Volume: 9.90M
Oct. 18, 2019 4:08p
P/E Ratio
30.94
Dividend Yield
0.30%
Market Cap
HK$3139.51 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
49,900.00
-600.00 -1.19%
Volume: 344.00
Oct. 18, 2019 3:30p
P/E Ratio
10.77
Dividend Yield
2.84%
Market Cap
₩338954.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207385621/delayed
TW : Taiwan
NT$ 293.00
-0.50 -0.17%
Volume: 45.10M
Oct. 18, 2019 1:30p
P/E Ratio
23.95
Dividend Yield
0.00%
Market Cap
NT$7597.61 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 34.87
+0.08 +0.23%
Volume: 425,606
Oct. 21, 2019 10:43a
P/E Ratio
14.68
Dividend Yield
5.50%
Market Cap
$175.92 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 87.72
-0.15 -0.17%
Volume: 85,928
Oct. 21, 2019 10:43a
P/E Ratio
7.99
Dividend Yield
10.23%
Market Cap
$143.18 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 2.34
-0.01 -0.43%
Volume: 989,441
Oct. 21, 2019 10:41a
P/E Ratio
9.26
Dividend Yield
0.85%
Market Cap
$5.36 billion
Rev. per Employee
N/A
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