Asian markets are trading mostly in red in early deals on Thursday amid cautious trade as investors focused on the tit-for-tat trade tariffs by the US and China as well as the overnight fall in crude oil prices. Meanwhile, the Russian rouble tumbled after the US announced new sanctions on Russia. China said that it will impose 25 percent tariff on $16 billion worth of US goods after the US finalized a list of about $16 billion worth of Chinese imports that will be subject to a 25 percent tariff. The Japanese market is declining following the mixed cues overnight from Wall Street and as a stronger safe-haven yen weighed on exporters’ shares. Though, Chinese stocks advanced despite rising trade tensions. Meanwhile, Singapore’s market was closed for a holiday.
Nikkei 225 declined 23.32 points or 0.1% to 22,620.99, Taiwan Weighted slipped 38.88 points or 0.35% to 11,036.37, KOSPI Index contracted 1.72 points or 0.07% to 2,299.73, and Jakarta Composite down by 3.35 points or 0.05% to 6,091.48.
On the flip side, Hang Seng gained 364.22 points or 1.27% to 28,723.36, Shanghai Composite rose 50.34 points or 1.8% to 2,794.41, and FTSE Bursa Malaysia KLCI up by 4.73 points or 0.26% to 1,809.46,
