US President Donald Trump’s threat to increase tariffs on Chinese imports continues to send shock waves across global financial markets, sinking stocks in the US and Europe overnight. US stocks dropped by the most since March and equities in Europe closed at their lowest in five weeks. We expect a bumpy day in Asian trading on Wednesday.
The key things on traders’ radars will be China’s April data on imports and exports and blue-chip liquor maker Kweichow Moutai, which received an inquiry letter from the Shanghai exchange for the set up of an affiliated sales unit.
Zhang Shidong in Shanghai, Azar Zaidi in Hong Kong.