Investors React to Trump’s EU Tariff Delay, Sending Asia-Pacific Markets in Mixed Directions
This is the live blog of CNBC covering the markets in Asia-Pacific.
Investors React to Trump’s EU Tariff Delay, Sending Asia-Pacific Markets in Mixed Directions
The markets of Asia-Pacific were tepid Monday when investors assessed U.S. President Donald Trump's extended deadline for the imposing of tariffs of 50% on imports from European Union countries.
The CSI 300 index for mainland China fell by 0.17 percent in the first hour of its launch as it was the Hang Seng Index in Hong Kong dropped by 0.49 percent.
The S&P/ASX 200 benchmark in Australia benchmark in Australia remained the same.
U.S. futures registered an increase during Asia's early trading hours. The U.S. financial markets will remain shut on Monday to observe Memorial Day.
Three of the key benchmarks on Wall Street declined in last Friday's session. Its broad-based S&P 500 index fell 0.67 percent to close with 5,802.82 and the Nasdaq Composite fell 1percent and closed at 18,737.21. Its Dow Jones Industrial Average lost 256.02 points which is 0.61 percent, before closing at 41,603.07.
The Australian Dollar/US Dollar FX Spot Rate logistics software firm WiseTech Global
It jumped up to 5.67 percentage on Monday following the announcement that it would acquire U.S. cloud computing company USD/JPY For $2.1 billion.
WiseTech plans to offer $3.30 per share to purchase E2open which is which is a premium of 28% to the price of Friday's close at New York, the company made public on Monday.
It is fully funded with a brand new debt facility of $3 billion which is being backed by a group of nine lenders, which includes Deutsche Bank and HSBC, is similar to WiseTech's plans to increase its global client base and product.
The company, well-known by it's CargoWise platform, will add approximately 5,600 more customers. This will likely to boost WiseTech's earnings-per share during the initial year of operation, according to the announcement.
The acquisition is just two months ago that the biggest pension plan AustralianSuper sold approximately 580 million Australian dollars ($377.35 million) worth of WiseTech shares due to corporate governance issues.
