Asian equities continue to extend their losses as risk aversion weigh on investor sentiment. The Hang Seng Index fell by 1.7% yesterday while Japan’s Nikkei 225 was down 0.73%. In today’s Asian session, Hong Kong’s stock index is down close to 450 points or 1.70% as it trades at 26,441.0. Meanwhile, Nikkei 225 is down 0.48% or 110 points to 23,038 as of 6:20 am GMT, November 21.
Australian stocks also posted a 0.8% decline to follow the 3% it incurred on Tuesday.
No-Deal Between the US and China in 2019?
Recent news about the US Senate passing a bill that aims to protect rights of Hong Kong protesters weighed dashed hopes that a phase one deal will be finalized by this year. It was reported yesterday that trade experts and people involved in negotiations think that 2020 will be the earliest when the US and China come up with a trade deal. China is after higher rollbacks while US President Trump has been adamant about giving them. In fact, he has even threatened to scrap negotiations altogether if China does not accept terms presented by the US.