Asia stocks edge off highs during Trump speech

Listen to this article

00:00
00:00

Stocks in Asia pared early gains as president Trump laid out his plans with both Tokyo’s Topix and Hong Kong’s Hang Seng retreating from their highs.

Asia-focused investors are waiting for details of any border tax or other duty – but they have been disappointed once more. Stocks however did edge lower when Mr Trump reiterated his intention to raise tariffs on importers.

He said: “currently, when we ship products out of America, many other countries make us pay very high tariffs and taxes – but when foreign companies ship their products into America, we charge them almost nothing.”

The Hang Seng was 0.2 per cent higher at 23,780, down from a 0.3 per cent gain as Mr Trump began. Tokyo’s export-heavy Topix was at 1,539, up 0.4 per cent from a 0.5 per cent gain earlier.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.