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STI up amid mixed trade in Asian market
The index gains 19.61 points to 3,285.34, as strong economic data in the US was tempered by continuing trade tensions
Add BT as a preferred sourcePublished Mon, Aug 6, 2018 · 09:50 PM
ASIAN markets traded mixed on Monday despite starting the early session with gains after US economic data on Friday showed that the pace of hiring remained strong over the past three months. This came despite a slowdown in jobs creation in July.
Gains were eventually pared as concerns surrounding the China-US trade tensions continue to fester.
On Friday, China proposed retaliatory tariffs on US$60 billion worth of US goods ranging from liquefied natural gas (LNG) to aircraft. It also made efforts to cushion the yuan after it closed in on a rate of seven yuan per US dollar.
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