Investing.com – Comments by US President Donald Trump kept the ongoing US-China trade war as a focal point in Asia on Wednesday morning, sending markets down across the board with Australia leading the way.
Most markets were in the red across the region after Trump said overnight that he may delay making a deal with China until after the presidential election towards the end of 2020.
The possibility of a phase one deal before Dec. 15, when new US tariffs on Chinese goods take effect, had been fuelling investor optimism. Trumps comments dampened that positive outlook.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” he said on Tuesday, adding that he does not have a deadline.
His comments helped push Wall Street down, with the finishing 1.01% down and the losing 0.66% during Tuesday’s session in the US.
Asian stocks followed suit.
Hong Kong’s , which has been battered this week by bleak news on the domestic economy, started the morning down as much as 1.32% to 26,049 by 9:10 PM ET (02:10 GMT). The city