The Asian equity benchmarks are trading in red in the early deals on Monday amid worries about the escalating trade war between the US and China. Trade talks between the countries ended without a resolution last week and the US hiked tariffs on about $200 billion worth of Chinese goods. The Japanese market is extending its losing streak while the safe-haven yen strengthened as worries about the escalating US-China trade war more than offset the positive cues from Wall Street Friday. Hong Kong market is closed today following the Birthday of the Buddha.
Nikkei 225 down 132.52 points or 0.62% to 21,212.40, Straits Times decreased 38.27 points or 1.17% to 3,235.23, Taiwan Weighted down by 149.53 points or 1.40% to 10,563.46, KOSPI Shares dipped 23.02 points or 1.09% to 2,085.02, Jakarta Composite tumbled 20.52 points or 0.33% to 6,188.60, Shanghai Composite slipped by 29.17 points or 0.99% to 2,910.04, and FTSE Bursa Malaysia KLCI down by 5.85 points or 0.36% to 1,604.42.
