Market Commentary - Foreign Markets
Asian stocks ended mostly higher on Monday despite lingering tariff worries, the threat of a U.S. recession and signs of deepening deflationary pressures in China.
The dollar began the week on a sluggish note after falling more than 3 percent last week against major rivals on concerns about tariffs and its impact on the economy.
U.S. President Donald Trump in a Fox News interview on Sunday declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.
There is a period of transition, because what we're doing is very big. We're bringing wealth back to America, Trump told the Sunday Morning Futures program.
Gold edged up slightly after modest gains last week. Oil prices declined as lackluster inflation data from the leading importer, China, coupled with uncertainty surrounding the effects of U.S. trade tariffs left traders anxious about decreasing demand.
China's Shanghai Composite index fell 0.19 percent to 3,366.16 after an announcement of fresh targeted levies on Canadian goods over the weekend.
Additionally, data showed consumer prices in China have plunged to their lowest level in more than a year, highlighting persistent deflationary pressures in the world's second-largest economy.
China's consumer price index (CPI), a main gauge of inflation, was down 0.7 percent year on year in February, the National Bureau of Statistics (NBS) said. On a monthly basis, the CPI dropped 0.2 percent in February, the NBS data showed.
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