Asian shares extend rout to eight days as Donald Trump ratchets up trade tension
The dollar is stronger, after a strong US jobs report pointed to interest rates rising at the Fed’s next meeting
Sydney — Asian shares started the week in the red on Monday, faltering for the eighth straight day, while the dollar climbed as US President Donald Trump raised the stakes in the heated trade dispute with China. MSCI’s broadest index of Asia-Pacific shares outside Japan was last down 0.6%, extending losses from last week, when it dropped 3.5% for its worst weekly showing since mid-March. Japan’s Nikkei opened lower but quickly pared losses after revised second-quarter gross domestic product data showed the world’s third-biggest economy grew at its fastest pace since 2016. Chinese shares weakened, with the blue-chip index off 0.6% while Shanghai’s SSE composite stumbled 0.4%. Hong Kong’s Hang Seng index slipped 0.8%. On Friday, Wall Street stocks ended lower while world share indices registered their biggest weekly declines in almost six months after Trump threatened tariffs on a further $267bn worth of Chinese imports, on top of earlier promises to levy duties on $200bn worth of Chi...
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