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Stock market: Asia in red with US-China tensions, Taiwan -1.6%

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Expo Hainan: optimistic Italian exhibitors on the Chinese market (ANSA)

(ANSA) – MILAN, AUGUST 02 – Asian stock exchanges in deep red with the Asia-Pacific area shaken by tensions between China and the US for the visit of the speaker of the House, Nancy Pelosi, to Taiwan while the decline in SME manufacturing indices in Europe and the United States it raises concerns about the economy’s resilience to the headwinds of war, the energy crisis and inflation.

Tokyo lost 1.4%, Taiwan 1.6% and Seoul 0.4% while Hong Kong is slipping by 2.2%, Shenzhen by 2.1% and Shanghai by 1.7% in waiting to see if China will follow up on its threats of military intervention. Sydney holds (+ 0.1%) after the Australian central bank, while raising rates to 1.85%, said further tightening will not follow a path already set. Geopolitical tensions also weigh on Wall Street and the European stock exchanges, whose futures are down by about half a percentage point.

Oil has little effect, with Brent remaining below $ 100 and WTI below $ 94 per barrel pending the OPEC + meeting tomorrow. In addition to Taiwan, markets will pay attention to the speeches of Fed members Charles Evans and James Bullard to get indications on the mood on the board of the US central bank on the subject of monetary tightening. (HANDLE).

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Source: Ansa

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