Wednesday, 17 May 2017

Asian markets fall as safe-haven yen climbs

Equities in Asia lost ground on Wednesday, with Dow futures tumbling and the safe-haven yen climbing amid the political and legal turmoil surrounding US President Donald Trump.

"Investors are deeply concerned that all the political noise will morph into economic risk as the political back-fence talk, speculation and dirty laundry could detract from Trump's key agenda: Tax reform," Stephen Innes, senior trader at OANDA, said in a note on Wednesday.

The Dow Jones industrial average futures for June tumbled 121 points to 20,813 by 8:40 a.m. HK/SIN, compared with the index's close at 20,979.75 as risk-off sentiment struck the market.

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