August 2, 2019 / 11:20 AM / 4 months ago

Asian shares suffer a loss in July

Aug 2 (Reuters) - Asian shares declined in July, weighed down by uncertainties over the U.S-China trade war and tempering expectations of aggressive monetary easing by major central banks this year.

The MSCI’s broadest index of Asia-Pacific shares, fell 1% last month, after a gain of over 5% in June. The index has fallen another 1.8% so far this month.

Trade optimism faded in July due to the lack of progress in trade talks between the United States and China. On Thursday, U.S. President Donald Trump said he would impose impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, which marked an end to a truce in the trade war struck in June.

The Federal Reserve cut interest rates at the end of July but the head of the U.S. central bank said the move might not be the start of a lengthy campaign to shore up the economy against risks including global weakness.

In July, equities markets in India plummeted 5.7%, South Korea shed about 5%, while Hong Kong and Malaysia both fell more than 2%.

Markets in Vietnam, New Zealand and Australia however, gained about 3% or more.

Reporting by Gaurav Dogra and Patturaja Murugaboopathy Bengaluru; Editing by Richard Borsuk

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