Asian equity benchmarks are trading lower on Monday, in line with the weak cues from U.S. markets, as the flared up US-China trade war fuelled global growth concerns. A report that China will reciprocate to the U.S. decision to impose tariffs on $300 billion worth of Chinese goods. Japanese market is in negative note with lower exporters and a stronger yen. Investors were also cautious as they eyed for July data of Japan for its services and composite indexes from Jibun Bank which will be released today. Among the other Asian markets, Shanghai, Singapore, Hong Kong, Indonesia, South Korea, Taiwan and Malaysia are trading lower.
Nikkei 225 down 488.56 points or 2.32% to 20,598.60, Straits Times dip 59.90 points or 1.84% to 3,201.21, Hang Seng diminish 777.86 points or 2.89% to 26,140.72, Taiwan Weighted decrease 105.82 points or 1.00% to 10,443.22, KOSPI Index down 45.79 points or 2.29% to 1,952.34, Shanghai narrows 23.37 points 0.81% to 2,844.47, Jakarta Composite dip by 103.50 points or 1.63% to 6,236.68, and FTSE Bursa Malaysia KLCI contracts 13.79 points or 0.85% to 1,612.97.
