Asian equity benchmarks are trading in red on Tuesday, amid worries about a prolonged US-China trade war and the political unrest in Hong Kong. The Argentine peso's steep decline against the dollar after Argentine President Mauricio Macri's loss in primary elections further dampened market sentiments. The Japan's Nikkei is in bearish trend after the holiday, following weak trend from American stocks and as investors awaited for the release of June data for its tertiary industry index today. Besides, the safe-haven yen strengthened with the major exporters lower. It is grim across the board as all key benchmarks in Asia are in negative territory
Nikkei 225 slumpped 249.56 points or 1.21% to 20,435.26, Straits Times down 25.45 points or 0.80% to 3,143.49, Hang Seng tumbled 468.97 points or 1.82% to 25,355.75, KOSPI Index dropped 13.18 points or 0.68% to 1,929.11, Taiwan Weighted diminished 83.19 points or 0.79% to 10,389.17, Jakarta Composite contracted by 29.40 points or 0.47% to 6,221.20, Shanghai decreased 20.92 points 0.74% to 2,794.07, and FTSE Bursa Malaysia KLCI fell 22.41 points or 1.39% to 1,592.64.
