Do Not Panic over Report of US-China Uncertain Trade Talk, Sino’s Visit Confirms
Wall Street panicked over the news of the White House cancelling trade talk with China, caused Wall Street to fall overnight. However, Larry Kudlow asserted that Chinese Vice Premier Liu He will be visiting next week.
Asia markets slipped in the early morning session on January 23, 2019, after Dow Jones snapped its four-day winning streak and dropped 301.87 points or 1.22% while S&P 500 plunged 1.42% and Nasdaq gave away 1.69%. The sudden fall came after Financial Times reported that White House had canceled a meeting with Beijing this week.
As of 9:05 in Thailand, NIKKEI fell 0.13%, SSEC and HSI just rebounded 0.18% and 0.40%, respectively, while ASX 200 slipped 0.05% and KOSPI gained 0.39%.
Asia markets regained its ground after digesting the news from White House economic advisor Larry Kudlow, who denied FT’s report, and told CNBC that “there was never a planned meeting” other than the scheduled visit by Chinese Vice Premier Liu He next week.