All of the Asian markets are trading in red in early deals on Thursday, following the mixed cues from Wall Street amid renewed worries about a US-China trade war and on rising bond yields. Investors’ sentiments were dampened following news that the Trump administration is considering raising the proposed tariff on $200 billion worth of Chinese imports to 25 percent from the 10 percent announced earlier. Meanwhile, China stocks plunged after US President Donald Trump proposed a higher 25 percent tariff on $200 billion worth of Chinese imports, bringing the Sino-US trade war back into sharp focus. Japan’s Nikkei share average dipped after weak earning reports by companies such as Kobe Steel and in the wake of declines on Wall Street, but losses were limited as banks performed strongly on the back of rising bond yields.
Nikkei 225 dipped 241.80 points or 1.07% to 22,504.90, Hang Seng dropped 657.69 points or 2.38% to 27,683.05, FTSE Bursa Malaysia KLCI contracted 7.81 points or 0.44% to 1,780.50, KOSPI Index slipped 35.56 points or 1.57% to 2,271.51, Taiwan Weighted declined 164.35 points or 1.50% to 10,933.78, Straits Times crumbled 44.91 points or 1.37% to 3,284.10, Shanghai Composite decreased 69.31 points or 2.52% to 2,755.22, and Jakarta Composite down by 13.16 points or 0.22% to 6,020.26.
