Asian equity benchmarks are trading lower on Tuesday, as the American stocks slumped to the sharpest session drop this year in midst of intensified trade war between the world’s two largest economies, United States and China. The market participants ditched stocks and dashed instead to safe heaven gold. Crude oil also dipped with the stock markets. Furthermore, the growing trade friction between Japan and South Korea and the worsening civil tensions in Hong Kong added to the mix of fear factors. The major exporters are sharply lower and it is grim across the board as all key benchmarks in Asia are in negative territory.
Nikkei 225 down 121.89 points or 0.59% to 20,598.40, Straits Times dip 19.52 points or 0.61% to 3,174.99, Hang Seng diminish 184.73 points or 0.71% to 25,966.59, Taiwan Weighted decrease 30.93 points or 0.30% to 10,392.48, KOSPI Index down 5.76 points or 0.30% to 1,941.22, Shanghai narrows 68.61 points 2.43% to 2,752.89, Jakarta Composite dip by 23.36 points or 0.38% to 6,152.34, and FTSE Bursa Malaysia KLCI down 3.46 points or 0.21% to 1,606.95.
