Asian markets turned red

06.08.2019 / 06:21

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Asian markets ended their session with lowers amid the escalation of the US-China trade war. Beijing has confirmed that it is suspending imports of US agricultural products in response to the new tariffs.

Trump announced last week that he would impose new tariffs of 10% on Chinese $ 300 billion worth of goods, which will come into force on September 1.

Shanghai Composite was down 1.63%, Shenzhen Component was down 1.97% and Shenzhen Composite was down 2.037%. The Hang Seng Index fell nearly 2.19%.

The Nikkei 225 went down 1.76% and Topix down 1.68%.

Kospi lost 1.34% and the ASX200 dropped 2.3%.

MSCI Asia ex-Japan index fell 1.75%.

The downturns during the Asian session followed those on Wall Street. During US trading, DJIA plunged 700 points, the S & P500 fell nearly 3% and the NASDAQ Composite fell 3.5%.

Trader Martin Nikolov

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Asian markets turned red

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