Asian markets closed in red on Wednesday after US President Donald Trump blocked microchip maker Broadcom Ltd's proposed takeover of Qualcomm Inc on national security grounds and fired his secretary of state, sparking fears of protectionism. There were also reports that the Trump administration is eying hefty tariffs on Chinese imports. Chinese shares ended lower as worries about Trump's protectionist trade policies overshadowed encouraging industrial output data. China's industrial output climbed 7.2 percent in the January to February period from a year ago, faster than the 6.2 percent rise in December, a government report showed. That was also above the 6.6 percent increase economists had forecast. Further, Japanese shares lost ground, after four straight days of gains, as the dollar wallowed against the yen and other major currencies on speculation that geopolitical tensions may rise after Trump's decision to replace Secretary of State Rex Tillerson with CIA chief Mike Pompeo.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,291.38 | -18.86 | -0.57 |
Hang Seng | 31,435.01 | -166.44 | -0.53 |
Jakarta Composite | 6,382.62 | -30.22 | -0.47 |
KLSE Composite | 1,857.06 | -6.97 | -0.37 |
Nikkei 225 | 21,777.29 | -190.81 | -0.87 |
Straits Times | 3,539.41 | -14.32 | -0.40 |
KOSPI Composite | 2,486.08 | -8.41 | -0.34 |
Taiwan Weighted | 11,038.80 | -56.83 | -0.51 |
