Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Asian Markets Fall as U.S. House of Representatives Impeaches Trump

Published 12/18/2019, 10:52 PM
Updated 12/18/2019, 10:58 PM
© Reuters.

Investing.com - Asian markets fell on Thursday morning following news that the U.S. House of Representatives voted to impeach President Donald Trump.

The decision was largely expected. Trump is the third president to be impeached in U.S. history but is likely to survive a trial in the GOP-led Senate.

China’s Shanghai Composite lost 0.2% by 10:30 PM ET (02:30 GMT), the Shenzhen Component was down 0.3%.

Sino-U.S. trade news continued to be in focus. Scepticism brews in the market as details of the phase one deal, agreed last week between the two sides, have not been confirmed by both sides.

In particular, China has shown little enthusiasm about the deal and did not confirm clearly the amount of American agricultural products it is willing to buy.

“There remains more questions than answers,” Chris Krueger, Washington strategist at Cowen, said in a note. It’s “more trade truce than deal ... It is unclear if any China tariffs on U.S. goods have been reduced ... Vague promises on IP protections.”

Chinese Foreign Ministry spokesperson Geng Shuang repeatedly dodged questions on the terms of the phase one trade deal in a regular news briefing on Wednesday, according to a transcript on its website.

“I have no further news at this time and there is nothing to update,” Geng said, when asked about the U.S. target of $40 billion to $50 billion in agriculture products.

Hong Kong’s Hang Seng Index dropped 0.5%.

Japan’s Nikkei 225 traded 0.4% lower after Bank of Japan kept policy steady. South Korea’s KOSPI was little changed.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Down under, Australia’s ASX 200 slipped 0.1%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.