Tariff war: American ban has filled the key in the Asian Stock Market in import duty on several products of consumer electronics. Most markets in Asia are green due to dollar weakness and prohibition on import duty. Talking about Japan, Nikkei 225 (Nikkei 225) currently gained 1.58% to 34,115.52; Shanghai Composite in China rose 0.91 per cent to 3,267.58 and CSI 300 also up 0.59 per cent to 3,772.69; Hang Sang in Hong Kong gained 2.64 percent to 21,466.06; In South Korea, Kospi rose 0.95 per cent with 2,455.91; Singapore’s strat Times rose by 1.96 per cent to 3,581.27.
American relief is interim
The American relief on the smartphone to laptop computers and the memory chip on which the Asian Market Hunkar is filling up is temporary. The reason for this is that US President Donald Trump has indicated that separate tariffs are being planned on consumer electronics and microchips. Trump said he would put tariffs on phone, computer and consumer electronics. Let us tell you that on Friday, relief was kept out of the tariff of 125 per cent of the electronics on China and 10 per cent tariffs on the rest of the countries, but now it is coming out that this relief is part of the strategy to impose special fees on them. On Sunday, Trump also indicated such. At the same time, China had said on the relief given on Friday that this concession is a small step towards improving wrongdoings. China had urged the US to make more efforts to remove the fees.
What to say of analysts?
Vishnu Varathan, the head of Mizuho Bank in Singapore (Economics and Strategy) Vishnu Varathan, says that the market seems to be eager for a little relief and it was supported when there was relief on a large area like electronics. On the other hand, Wilson Asset Management’s portfolio manager Matthew Haupt in Sydney said in a conversation with news agency Bloomberg that trading in short -term between conflicting statements and current policies has become almost impossible. He further said that the market is looking forward to this noise and it is assuming that soon a deal will be made and a better situation will be made from now on.