Asian stocks closed in red on Friday, the dollar weakened and safe-haven assets such as the gold and the Japanese yen strengthened after US President Donald Trump announced tariffs on at least $50 billion worth of Chinese imports and China said it would impose tariffs on up to $3 billion worth of US goods in retaliation. Chinese shares ended lower under pressure from mounting trade tensions. Further, Japanese shares closed near six-month lows as the rumblings of a global trade war shook financial markets and helped lift the yen to its highest level in more than a year against the US dollar. Investors were also spooked by the appointment of John Bolton, the former US envoy to the UN, as Trump's national security adviser.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,152.76 | -110.72 | -3.39 |
Hang Seng | 30,309.29 | -761.76 | -2.45 |
Jakarta Composite | 6,210.70 | -43.38 | -0.69 |
KLSE Composite | 1,865.22 | -11.65 | -0.62 |
Nikkei 225 | 20,617.86 | -974.13 | -4.51 |
Straits Times | 3,421.39 | -69.98 | -2.00 |
KOSPI Composite | 2,416.76 | -79.26 | -3.18 |
Taiwan Weighted | 10,823.33 | -182.51 | -1.66 |
