Asian stocks dipped and currencies weakened on Thursday amid growing concerns that Donald Trump's proposed tariffs and economic policies could lead to inflation and slow US interest rate cuts. MSCI's emerging market stock gauge fell 0.4%, with Thailand, Taiwan, and Singapore experiencing notable declines. Trump's consideration of a national economic emergency to justify tariffs on both allies and adversaries has raised anxieties about global trade and price stability. The threat of tariffs, coupled with concerns about China's economic growth, has put pressure on Asian currencies and bonds.
MOST Asian equities retreated on Thursday while currencies edged lower as growing concerns that US President-elect Donald Trump's proposed policies may fuel inflation and slow rate cuts dented sentiment towards risky assets.MSCI's gauge for emerging market stocks retreated 0.4 percent. Stocks in Thailand and Taiwan declined over 1 percent each, while those in Singapore slipped 0.5 percent after hitting a more than 17-year high on Wednesday.
'The threat of tariffs has led to a selloff in global bond markets with the US benchmark 10-year yield touching a more than eight-month high on Wednesday, providing support for the dollar and adding pressure to Asian currencies and bonds.MSCI's emerging market currency index edged 0.1 percent lower.The Thai baht slipped 0.2 percent while the Taiwan dollar retreated 0.3 percent.Indonesia's 10-year benchmark yield rose to 7.214 percent, hitting its highest level in more than 6 months.
FINANCE GLOBAL ECONOMY TARIFFS INFLATION ASIA
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