Asian equity benchmarks are trading lower on Monday amid a confusing swirl of signals about the US-China trade war. The dramatic tit-for-tat escalation has clouded prospects for a trade deal between the two super power nations. The Chinese government imposed retaliatory tariffs on $75 billion of US goods and US President Donald Trump punched back with hike of tariffs on $250 billion worth of Chinese goods to 30% from 25%. The Japanese stocks traded lower on a stronger safe-haven yen. Negative cues from Wall Street stocks also weighed on market sentiments.
Nikkei 225 down 428.77 points or 2.07% to 20,282.14, Straits Times dipped 43.93 points or 1.41% to 3,066.42, Hang Seng slipped 731.67 points or 2.79% to 25,447.66, Taiwan Weighted diminished 150.63 points or 1.43% to 10,387.48, KOSPI Index decreases 27.68 points or 1.42% to 1,920.62, Shanghai sink 27.62 points 0.95% to 2,869.81, Jakarta Composite contracted by 57.06 points or 0.91% to 6,198.54 and FTSE Bursa Malaysia KLCI lower 17.42 points or 1.08% to 1,591.91.
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