Asian markets ended lower on Monday following an escalation of the US-China trade war over the weekend sapped investors' appetite for risk, shrugging off a dovish speech by Fed chief Jerome Powell at the Jackson Hole Economic Policy Symposium. On Friday Trump announced an additional duty on some $550 billion of targeted Chinese goods after China unveiled retaliatory tariffs on $75 billion worth of American products. Japanese shares ended lower as the yen surged to its highest levels since January 2019 following fresh escalation of the US-China trade war. Hong Kong shares ended down on mounting worries over violence during anti-government protests in the city added to the heavy selling pressure. Furthermore, Chinese shares declined as its currency, yuan plunged to an 11-year low as investors worried about the impact of the new US tariffs on China's economic growth.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,863.57 | -33.86 | -1.17 |
Hang Seng | 25,680.33 | -499.00 | -1.91 |
Jakarta Composite | 6,214.51 | -41.09 | -0.66 |
KLSE Composite | 1,600.53 | -8.80 | -0.55 |
Nikkei 225 | 20,261.04 | -449.87 | -2.17 |
Straits Times | 3,065.33 | -45.02 | -1.45 |
KOSPI Composite | 1,916.31 | -31.99 | -1.64 |
Taiwan Weighted | 10,354.57 | -183.54 | -1.74 |
