Asian petrochemical firms were trading lower on Thursday, tracking as investors were cautious about the impact of a fresh round of US tariffs on Chinese goods.
Japan’s Mitsui Chemicals and JXTG Holdings was down. In South Korea, LG Chem was down while in Taiwan, Formosa Petrochemical Corp was lower. In southeast Asia, Thailand’s PTT Global Chemical was and Malaysia’s PETRONAS Chemicals Group inched up.
As per report, the public consultation period for the latest round of proposed US tariffs on $200bn additional Chinese good ends on 6 September, and could technically take effect immediately thereafter. It is not yet clear if the tariffs will be set at 10% or 25%
