AFP, Hong Kong :
Asian markets turned lower on Thursday as the dealers begin to wind down ahead of the Christmas break and as the rally fuelled by the China-US trade pact loses steam.
There was little major reaction after the House of Representatives voted to impeach Donald Trump as he is unlikely to be removed from office by the Republican-held senate.
With few catalysts to drive business, investors were taking it easy after a rollercoaster year that has seen equities swing back and forth mostly by trade rows between the US and China as well as other major allies, while Brexit has also played a key role.
The hope is that now Washington and China have reached a partial tariffs agreement – and British politics is on a more even keel after last week’s decisive election win for pro-Brexiter Boris Johnson – markets can enjoy a healthy 2020.
Analysts pointed to a recent run of positive economic data around the world that indicates the slowdown in global growth could be nearing a bottom, which could help Wall Street extend its record-breaking run.
“The trade deal relief rally looks set to take on a fundamental shift as the global growth rally trade of 2020 starts to build momentum on the back of the decisive run of comprehensive economic data to end the year,” said Stephen Innes at AxiTrader.
Asian markets turned lower on Thursday as the dealers begin to wind down ahead of the Christmas break and as the rally fuelled by the China-US trade pact loses steam.
There was little major reaction after the House of Representatives voted to impeach Donald Trump as he is unlikely to be removed from office by the Republican-held senate.
With few catalysts to drive business, investors were taking it easy after a rollercoaster year that has seen equities swing back and forth mostly by trade rows between the US and China as well as other major allies, while Brexit has also played a key role.
The hope is that now Washington and China have reached a partial tariffs agreement – and British politics is on a more even keel after last week’s decisive election win for pro-Brexiter Boris Johnson – markets can enjoy a healthy 2020.
Analysts pointed to a recent run of positive economic data around the world that indicates the slowdown in global growth could be nearing a bottom, which could help Wall Street extend its record-breaking run.
“The trade deal relief rally looks set to take on a fundamental shift as the global growth rally trade of 2020 starts to build momentum on the back of the decisive run of comprehensive economic data to end the year,” said Stephen Innes at AxiTrader.
