Asian markets ended lower on Monday due to selling pressure followed by escalated US-China trade tensions after US President Donald Trump on May 05 said that the US would hike tariffs on $200 billion worth of Chinese goods this week, with further tariffs on $325 billion goods ‘shortly’. Following Trump's threats to slam higher tariffs, the South China Morning Post newspaper reported, citing sources that Beijing is considering canceling the 11th round of trade talks with US officials later this week. Chinese shares ended lower on heavy selling pressure as Trump's comments unsettled investors who had been anticipating a trade deal as early as this week. Meanwhile, markets in Japan and South Korea were closed for holidays.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,906.46 | -171.88 | -5.58 |
Hang Seng | 29,209.82 | -871.73 | -2.90 |
Jakarta Composite | 6,256.35 | -63.11 | -1.00 |
KLSE Composite | 1,632.80 | -4.50 | -0.27 |
Nikkei 225 | - | - | - |
Straits Times | 3,290.62 | -101.67 | -3.00 |
KOSPI Composite | - | - | - |
Taiwan Weighted | 10,897.12 | -199.18 | -1.80 |
