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Showing posts with the label Asia Trading Morning

Asia | Asia Stocks at the opening: Asia stocks tumble, Nikkei falls 2.6%

Eustance Huang 4 minutes Asia markets traded lower Tuesday morning as the U.S.-China trade war intensified, after Beijing confirmed it is suspending agricultural product purchases in response to new American tariffs. President Donald Trump said last week the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1. In Japan, the Nikkei 225 plunged 2.61% in early trade, as shares of index heavyweight and robot maker Fanuc declined 3.69%. The Topix index also fell nearly 2.4%. South Korea’s  Kospi dropped 1.6%, as chipmaker SK Hynix saw its stock drop 2.92%. Australia’s S&P/ASX 200 slipped 2.48%. The MSCI Asia ex-Japan index declined 0.76%. The Tuesday session in Asia followed overnight declines on Wall Street, where the Dow Jones Industrial Average plunged more than 700 points, the S&P 500 dropped nearly 3% and the Nasdaq Composite fell 3.5%. It was the worst percentage drop for all three i