Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, February 18, 2018 11:00:16 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Asian traders cautious after hefty sell-off as Trump woes linger

By
20th-May-2017       
Comments
Share your thought
Post a comment »
Read all () »

AFP, Hong Kong :
Asian traders headed into the weekend on a nervous note Friday as a pick-up in US stocks and positive data were offset by worries about a crisis engulfing Donald Trump's presidency that could throw his economic agenda into doubt.
Markets in the region were rocked Thursday by claims by recently fired FBI boss James Comey that the president pressed him to drop a probe into ex-national security advisor Michael Flynn's links to Moscow.
That came a day after it was reported Trump had divulged classified information to Russia's foreign minister, fanning further allegations about his own ties to the country's leaders.
The reports compounded a crisis at the White House that has led for calls for the tycoon to be impeached, fanning fears that his plans for tax cuts and ramped up infrastructure spending could be knocked off course.
Trump on Thursday slapped down the accusations against him and said he was the victim of the "greatest witch hunt" in American political history.
US dealers-who on Wednesday saw Wall Street suffer its heaviest losses since Trump's November election-were cheered by better-than-forecast jobs claims figures and manufacturing data, helping the three main indexes to post small gains.
But Asian investors remained circumspect, with Tokyo ending the morning session 0.2 percent lower, Hong Kong,Shanghai and Seoul each flat and Sydney losing 0.5 percent. Singapore was also flat.
Ric Spooner, a market strategist at CMC Markets, said: "While investors will be relieved that yesterday's selling looks unlikely to be repeated today, it's too early to assume yesterday was a one-day wonder.
"Markets have clearly decided that the US political situation has the potential to knock stock valuations off their relatively high perch."
The dollar also managed to claw back some losses, having tumbled to seven-month euro lows but while analysts said Trump's troubles were unlikely to throw the Federal Reserve off its course of raising interest rates next month the unit would continue to face headwinds.
"The US remains completely engulfed in the Trump Comey storyline, and the (dollar) will continue to be unalluring until further clarity is forthcoming on the special investigation," Stephen Innes, senior trader at OANDA, said in a note.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

More than Suu Kyi, the Generals deserve punishment first


THE UN special envoy on Thursday said, Myanmar's Aung San Suu Kyi has clearly failed to stand up for the Rohingyas, and can well be held accountable for crimes against humanity. To a greater extent the UN envoy is correct. While talking to a news channel, the UN envoy also ...

Cricket »

Tamim to play in 2nd T20I against Sri Lanka


Sports Reporter :Dashing opener Tamim Iqbal will play for Bangladesh in the second and final Twenty20 International Cricket match against Sri Lanka at Sylhet International Cricket Stadium in Sylhet today. The match starts at 5.00 pm.Captain of Bangladesh team Mahmudullah Riyad said, " Tamim's condition is now pretty good. I ...

Entertainment »

Jennifer Winget back with `Bepannah`


Indian television's popular face Jennifer Winget has a huge fanbase-thanks to her impeccable acting prowess. Her performances on the silver screen have always made her a winner and after swooning the viewers in 'Beyhadh', the actress is back with a new TV show.Jennifer's new television show is titled 'Bepannah' and ...

Entertainment »

'Vulnerability' is the key to Kristen Bell's healthy marriage


Actress Kristen Bell says that "vulnerability" is a key factor in keeping her relationship with husband Dax Shepard "healthy". Bell posted a photograph of a hand-written note on Instagram, which detailed six key points which help her keep things running smoothly with her 43-year-old spouse, reports femalefirst.co.uk. The note read: ...

City »

Home Minister Asaduzzaman Khan distributing Bangladesh Coastguard Medals among the officials and employees of Bangladesh Coastguard at a ceremony organised recently at its Headquarters in the city 's Agargaon.


International »

Former playboy model alleges affair with Trump


AFP, Washington :A second woman has made allegations of an affair with Donald Trump, describing complex legal and financial agreements in an alleged bid to cover it up.Former Playboy model Karen McDougal claims that she and Mr Trump had a sexual relationship in 2006, months after first lady Melania Trump ...

Editorial »

Uncomfortable truth about meeting the wrong persons


The European Union's involvement in holding our national polls goes back more than a couple of decades.  As one may expects, this time also the political and economic union of 28 member states expects for an all-inclusive, free and fair polls to take place in Bangladesh. Last Wednesday a European ...

Entertainment »

Trolls affect our family, friends: Zareen Khan


Zareen Khan says she is glad that her mother is not on social media as she will get disturbed with the way her daughter gets trolled. "Trolls don't realise that whatever they write not only affects us but also affects our family and friends. I am very thankful for the ...

Sports »

Korean `Iron Man` Kim wins historic Olympic skeleton gold


AFP, Pyeongchang :South Korea's Yun Sung-bin made history Friday as he became Asia's first Olympic skeleton champion after completely dominating the daredevil event in Pyeongchang.Roared on by the home crowd on the start of a lunar new year observed in Korea, the 23-year-old stormed to his country's second gold medal ...

City »

The main road of the city`s Hazipara is in sorry state for the free movement of pedestrians and also passengers. The situation remains the same for long, but the authority concerned seemed to be blind to repair the road for the convenience of road users. The snap was taken on Friday.


.

International »

Desmond Tutu quits Oxfam role over charity`s sex scandal


AFP, Johannesburg :Retired archbishop and Nobel laureate Desmond Tutu announced Thursday that he had quit his role as an ambassador for Oxfam after the British charity was hit by sexual misconduct allegations."The Archbishop is deeply disappointed by allegations of immorality and possible criminality involving humanitarian workers linked to the charity," ...

Editorial »

Quota versus merit: Deserving candidates being deprived


THERE are thousands of others who hold the existing quota system responsible for not getting the job a meritorious candidate deserves. Currently, only 44 percent are recruited on merit and the remaining 56 percent on privilege allocated under various quotas.The quota system draws two strong criticisms. Firstly, it is hugely ...

Cricket »

Soumya hits first half century in T20I


Southpaw opener Soumya Sarkar made a stormy return as he hit his maiden half century in the T20I format against Sri Lanka in the first match of the two-match T20I series at Sher-e-Bangla national Cricket Stadium at Mirpur on Thursday.The left-handed batsman put away Shehan Madushanka for a four and ...

City »

President Abdul Hamid along with others offering munajat when he visited Mazar of Hazrat Shahporan (R) in Sylhet on Thursday.


Entertainment »

Anupriya Goenka on playing lesbian in ad


Actor Anupriya Goenka recently played the role of queen Nagmati in Sanjay Leela Bhansali's Padmaavat, starring alongside Deepika Padukone and Shahid Kapoor, but it was her controversial ad for a fashion brand in 2015, which created a lot of buzz. While it was touted as the first ever lesbian advertisement, ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news