Asian equities slump as violence erupts in Hong Kong

Asian equities slump as violence erupts in Hong Kong

Increasingly violent protests are taking a further toll on Hong Kong's stock market, with shares falling more than 2 percent on Monday after police opened fire on protesters in the eastern part of the city, wounding at least one person.

Cisco Systems and Qualcomm shares dropped 1.5% and 2.3%, respectively, following analyst downgrades.

"They'd like to have a rollback", Trump told reporters at the White House.

"I'd like to make a deal but it's got to be the right deal", Trump added, saying that the US Treasury was collecting tens of billions of dollars in tariffs from the Chinese.

That raised doubts in the markets that some sort of agreement is imminent. But there is dissension within the White House about whether and by how much to roll back 15% duties imposed on September 1 on another $112 billion of goods.

Investors were still anxious about fallout from the 16-month U.S.

The Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, will probably extend a deal to limit crude supply but are unlikely to deepen their cuts, Oman's energy minister said, as the United Arab Emirates said it was not anxious about long-term growth in oil demand. On the negative side, another significant build in U.S. crude oil supplies have dented the mood among traders in line with downbeat headlines from the OPEC+ event next month. "President Trump's comments sounded more like a negotiating tactic than an actual threat, and Wall Street seemed to agree". This sent the oil market down on Monday, as participants fret about the implications for global trade, economic growth, and, as a result, global oil demand growth. That was the fifth straight week of gains for the index, which matches its longest winning streak in the last two years.

The Dow Jones Industrial Average closed slightly higher Monday after erasing a deficit of 163 points as Boeing popped on news its will resume deliveries of the beleaguered 737 Max jet next month.

Earnings season is close to complete, and almost 90% of the companies in the S&P 500 have reported their profits for the July-through-September quarter, according to FactSet. The company also said it received a positive response from a test of its planned streaming service, Disney Plus. The S&P and Nasdaq stilll ended down, but well off the lows. It also announced the resignation of its CEO, Art Peck. US crude was 63 cents, or 1.1 per cent, lower at $56.61 a barrel, having risen 1.9 per cent last week.

Recently, there have been some signs thawing, with negotiators last month announcing they had agreed to the framework of a phase one deal.

Prices of the barrel of the American reference for the sweet light crude oil have started the week on the defensive and are trading back in sub-$57.00 levels. It rose 22 cents on Friday to $62.51 a barrel.

In currency markets, the euro was up 0.2 per cent at $1.1036 while the dollar fell 0.3 per cent to 108.93 yen. The euro rose to $1.1026 from $1.1021.

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