The Asian equity benchmarks are trading in red in the early deals on Wednesday following the weak cues overnight from Wall Street amid worries about escalating US-China trade tensions. U.S. Trade Representative Robert Lighthizer confirmed that the US plans to raise tariffs on $200 billion worth of Chinese goods to 25 percent on Friday. The Japanese market is extending losses from the previous session and the safe-haven yen strengthened as worries about US-China trade tensions intensified.
Nikkei 225 down 384.01 points or 1.75% to 21,539.71, Straits Times decreased 31.37 points or 0.95% to 3,281.15, Hang Seng declined 206.79 points or 0.70% to 29,156.23, Taiwan Weighted down by 69.58 points or 0.63% to 10,918.68, KOSPI Shares dipped 4.90 points or 0.23% to 2,172.09, Jakarta Composite tumbled 40.16 points or 0.64% to 6,257.16, Shanghai Composite slipped by 3.24 points or 0.11% to 2,923.15, and FTSE Bursa Malaysia KLCI down by 9.88 points or 0.60% to 1,629.49.
