Asian stocks subject to volatility after Trump shooting

In today’s trading Asian stock market Prices showed volatility following the shooting incident at a campaign rally of former US President and presidential candidate Donald Trump in Pennsylvania earlier this week. In addition, the situation was further complicated by a national holiday in Japan, which led to market liquidity.

David Roche, president of Quantum Strategy, said in a statement on Sunday that Trump is likely to win the presidential election and that the chances of a clear Republican victory in both the House and Senate are greater.

The possibility of Trump returning to the White House after the attack is now heightening investor concerns. His aggressive trade policies, lax regulation, budget plans and possible tax cuts could fuel inflation and delay interest rate cuts.

Meanwhile, China’s National Bureau of Statistics reported economic growth of 4.7 percent in the second quarter, below the Reuters poll’s forecast of 5.1 percent and also below the 5.3 percent growth in the first quarter.

Retail sales in China were also lower than expected in June, rising 2 percent year-on-year, compared to economists surveyed by Reuters who had expected growth of 3.3 percent. In May, sales had risen by 3.7 percent.

The Hang Seng Index in Hong Kong fell 1.73% in its final hour of trading, led by consumer goods, while the CSI 300 in mainland China rose 0.11% to 3,476.25 after economic data fell short of expectations.

In addition, China’s top politicians are meeting this week for the highly anticipated third plenary session. Analysts expect the focus to be on local governments’ high levels of debt and the promotion of modern manufacturing rather than the real estate sector.

Elsewhere in Asia, markets in Japan are closed for a holiday. South Korea’s Kospi rose 0.14 percent to close at 2,860.92, while the small-cap Kosdaq rose 0.3 percent to 852.88, ending a three-day losing streak.

In Australia, however, the S&P/ASX 200 reached an all-time high, exceeding the 8,000 point mark for the first time. It closed up 0.73 percent at 8,017 points.