Japan Stocks Fall, Trade War Worries Mount
Asia-Pacific markets traded mixed Friday, after Wall Street resumed selloff overnight as trade war tensions between the world’s two largest economies fueled risk-off mood.
In Japan, the Nikkei 225 fell once again, giving back 1,023.42 points, or 3%, to 33,585.58.
In Hong Kong, the Hang Seng gained 232.91 points, or 1.1%, to 20,914.69.
CHINA
In Shanghai, the CSI 300 took on 15.41 points, or 0.4%, to 3,750.52.
U.S. President Donald Trump announced a tariff U-turn Wednesday, dropping the new reciprocal tariff rates on imports from most countries for 90 days.
Additionally, the cumulative tariff rate on China now would be 145%, the White House confirmed on Thursday. The figure consists of the new 125% duty on goods, on top of the 20% duty linked to the fentanyl crisis.
In other markets
In Singapore, the Straits Times Index declined 65.3 points, or 1.8%, to 3,512,53
In Korea, the Kospi shed 12.34 points, or 0.5%, to 2,432.53
In Taiwan, the Taiex surged 528.74 points, or 2.8%, to 19,528,77
In New Zealand, the NZX 50 dropped 182.3 points, or 1.5%, to 12,019.14
In Australia, the ASX 200 lost 63.09 points, or 0.8%, to 7,646.46.
