All of the Asian markets are trading in red in early deals on Tuesday as worries about trade wars between the US and other major economies weighed on investors’ sentiments. Hong Kong stocks were getting slammed as the Shanghai market slid further from yesterday’s 28-month low amid fears over an escalating US-China trade dispute and a rapid fall in the yuan. Meanwhile, Japanese shares snapped back into the red from a modest bounce early, briefly touching near three-month lows on growing worries a trade row between the United States and China could harm the economy and corporate earnings.
Nikkei 225 dropped 185.73 points or 0.86% to 21,626.20, Hang Seng dipped 789.19 points or 2.80% to 28,165.92, Straits Times declined 15.90 points or 0.49% to 3,223.04, Taiwan Weighted slipped 39.33 points or 0.37% to 10,738.61, KOSPI Index contracted 13.66 points or 0.60% to 2,257.88, Shanghai Composite tumbled 35.29 points or 1.29% to 2,740.27, FTSE Bursa Malaysia KLCI decreased 8.00 points or 0.47% to 1,677.05, and Jakarta Composite down by 82.27 points or 1.45 % to 5,665.43.
