In the recent time, markets in the Asia Pacific traded vigilantly, after the previous day’s rally, as new concerns emerged about the partial trade deal amid U.S.-China. The Kospi index in South Korea edged up at 2,068.17. In Japan, the Nikkei 225 index climbed by 1.87% to close at 22,207.21 and the Topix index advanced by 1.56% to settle at 1,620.20. The shares in Chinese mainland markets dropped: the Shanghai Composite declined by 0.56% to 2,991.05, the Shenzhen Composite fell by 1.1% to close at 1,641.94, and the Shenzhen Component slipped by 1.17% to settle at 9,671.73. The pork prices across China bounced by 69% on-year in the last month owing to an ongoing scarcity of the meat after an outburst of African swine fever.
In general, the CPI (consumer price index) was reported to have surged by 3% on-year in September while the PPI (producer price index) decreased by 1.2%. In Hong Kong, the Hang Seng index dropped by 0.11%. Australia’s ASX 200 index wavered amid fractional losses and gains to settle up 0.14% at 6,652. The financial subindex upturned downbeats to trade up at 0.29% whilst the energy domain slipped by 0.85% and materials were down by 1%. In the overnight, stocks across Wall Street closed slightly lower and dropped in top European markets.
On a related note, lately, President Donald Trump’s outside advisor on China stated that Beijing is “alleviated” by a partial trade deal. The partial trade accord amid China and the U.S. has caused relief amongst executives in Beijing, one advisor of Trump told CNBC. Michael Pillsbury—Director of the Center for Chinese Strategy from the Hudson Institute—asserted, “I will say they are quite relieved more than happy.” Pillsbury argued that news that the U.S. will slap punitive measures in opposition to China beyond levies might have helped to “phase one” of a trade deal.