Markets slump on fears of prolonged trade tensions : Hopes pinned on resolution at G-20 Summit after US threatens China with more tariffs
Asian markets saw red yesterday as the trade war between China and the United States threatened to spiral out of control, with both upping the ante. Bourses in Hong Kong, China and Japan all closed lower on the heels of Wall Street's earlier US$1 trillion (S$1.37 trillion) wipeout.
With neither side backing down, all eyes are on the upcoming Group of 20 Summit late next month.
Noting that a 90-day truce had been called at last December's G-20 Summit in Argentina, economists from UO...