Most of the Asian equity indices are trading lower in the early deals on Monday amid worries that a full-blown trade war between the US and China could negatively impact global economic growth. In addition, weak metal prices weighed on mining stocks. Meanwhile, Japan’s Nikkei share average dropped to a six-month low while the yen rose to near a 16-month peak, on persistent worries about a global trade war, although some stocks were in demand before they go ex-dividend this week. Among the other Asian markets, Hong Kong, Shanghai, Indonesia, Taiwan, Malaysia, and Singapore are lower. Bucking the trend, South Korea is in positive territory.
Nikkei 225 dropped 74.32 points or 0.36% to 20,543.54, Hang Seng slipped 168.59 points or 0.56% to 30,140.70, Shanghai Composite dipped 51.85 points or 1.64% to 3,100.91, Jakarta Composite contracted 32.51 points or 0.52% to 6,178.19, Taiwan Weighted declined 17.42 points or 0.16% to 10,805.91, FTSE Bursa Malaysia KLCI tumbled 7.79 points or 0.42% to 1,857.43, and Straits Times down by 24.07 points or 0.70% to 3,397.32.
On the concern side, KOSPI Index up by 7.34 points or 0.3% to 2,424.10.
