Global stocks tumbled in early Asian trade on Thursday

Global stocks tumbled in early Asian trade on Thursday, on signs Washington and Beijing were still wide apart on trade issues and were making no progress in deputy-level talks. Nifty futures on Singapore exchange traded with deep cuts, signalling weakness following Wednesday’s big rally.

Global Stocks

  • Futures on the S&P 500 Index were little changed after dropping as much as 1.3%.
  • Japan’s Topix Index closed little changed after sliding 1.1% earlier.
  • Korea’s Kospi Index fall 0.6%.
  • Shanghai Composite advanced 0.6%.
  • Hang Seng Index rose 0.4%.
  • Euro Stoxx 50 futures were up 0.2%.

Currencies

  • The yen was flat at 107.53 per dollar after rising as much as 0.4% earlier.
  • The offshore yuan was up 0.3% at 7.1136 per dollar after falling as much as 0.4% earlier.
  • The euro gained 0.1% to $1.0985.
  • The Aussie climbed 0.3% to 67.45 U.S. cents.

Commodities

  • West Texas Intermediate crude fell 0.3% to $52.46 a barrel after tumbling as much as 2.3% earlier.
  • Gold was little changed at $1,504.87 an ounce.

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