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Chinese stocks faltered on Wednesday after the public holidays, and the Tokyo stock exchange was closed for another holiday. Tensions between U.S. President Trump and China frightened Asian investors. The Shanghai stock exchange was down 0.4 percent. The index of the main companies in Shanghai and Shenzhen lost 0.5 percent. The MSCI index for Asian stocks outside of Japan rose 0.9 percent.
“With Trump and the companies still fixated on the Wuhan laboratory, traders are incredibly cautious this morning and are weighing up all of China’s possible responses. And the one that would do the damage would be if China imported US oil reduced, “said Stephen Innes, chief strategist for global markets at AxiCorp. US President Donald Trump has repeatedly targeted China as the source of the pandemic and warned that it would be held accountable. On Tuesday, he asked China to disclose the origins of the novel corona virus. Global financial markets fluctuate this month between gloomy economic data and worries about deteriorating US-China relations and optimism about easing COVID-19 restrictions.
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