Asia-Pacific markets set to open lower as new China port fees on U.S. ships kick in
SHANGHAI, CHINA – JUNE 08: Aerial view of skyscrapers standing in Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China.
VCG | Visual China Group | Getty Images
Asia-Pacific markets are set to open lower on Tuesday, led by gains on Wall Street after US President Donald Trump softened his stance on China.
After a series of tit-for-tat trade restrictions and heated exchanges, Trump in question “Don’t worry about China, everything will be fine!” In a post published on Truth Social on Monday.
China has imposed fees on US ships for docking in its ports in retaliation for similar charges Washington has imposed on Chinese ships. Both charges are scheduled to begin today.
Japan’s reference point Nikkei 225 The index was set for a lower open, with the futures contract in Chicago trading at 47,235 and its counterpart in Osaka trading at 46,980, versus the index’s Monday close of 48,088.8.
In Australia, the ASX/S&P 200 lost 0.25%.
of hong kong Hang Seng Index Futures contracts would open lower, trading at 25,794 compared to the index’s previous close of 25,889.48.
U.S. stock futures were little changed in early trading in Asia. Major benchmarks in the US on Monday recovered a significant part of the losses they suffered last week after Trump’s Truth Social post.
The Dow Jones Industrial Average ended the night up 587.98 points, or 1.29%, at 46,067.58; This corresponds to 67% of Friday’s loss. The S&P 500 regained 56% of its previous decline and closed at 6,654.72, up 1.56%. The Nasdaq Composite index rose by 2.21 percent to 22,694.61, leading the rise with the decline of technology stocks.
— CNBC’s Alex Harring, Sarah Min and Fred Imbert contributed to this report.
