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The Asian markets fell on Wednesday, following heavy losses on Wall Street, investors fearing that the trade war between the United States and China will degenerate.
The Dow Jones Industrial Average
DJIA, -1.79%
experienced its worst percentage decline since Jan. 2, a day after the Trump administration confirmed that it would increase tariffs on $ 200 billion worth of Chinese goods, which would drop 10% on Friday at 25%. Nonetheless, Chinese Vice Premier Liu He will lead a delegation to the trade talks in Washington on Thursday and Friday, and there is still room for an agreement to be reached.
"Over the past 24 hours, sentiment has changed dramatically as some investors protect themselves against safe haven assets while others are falling apart while others opt for the margin," Stephen said. Innes, managing partner at SPI Asset Management, wrote in a note on Tuesday. "But one thing is for sure, equity investors are becoming more and more uncomfortable hour by hour."
Asian markets largely recovered on Tuesday, after a strong sell Monday, but fell again on Wednesday. Nikkei from Japan
NIK -1.46%
1.5%, while Hong Kong's Hang Seng index
HSI, -1.23%
fell 1.1%.
Losses recorded for the Shanghai Composite
SHCOMP, -1.12%
which fell 1%, while the smaller capitalization Shenzhen Composite
399,106, -0.65%
slipped 0.4%. Kospi from South Korea
SEU, -0.41%
also dropped 0.4%, while the benchmarks in Taiwan
Y9999, -0.58%
, Singapore
IST -0.83%
and Indonesia
JAKIDX, + 0.65%
decreases. The S & P / ASX 200 from Australia
XJO, -0.42%
slipped 0.4%.
From New Zealand
NZ50GR, + 0.36%
The main equity index withstood the weaker trend, rising 0.4% after the country's central bank raised the official cash rate by 25 percentage points to 1.5%, the lowest of all time. It was the first rate cut of the Reserve Bank of New Zealand since 2016 and weighed on the currency of the country.
NZDUSD, -0.1364%
.
Among the individual stocks, Toyota
7203, -0.95%
fell in Tokyo, just like SoftBank
9984, + 0.04%
and Fanuc
6954, -2.24%
. In Hong Kong, Tencent
7:00 + 1.05%
pink but Sunny Optical
2382 -2.84%
, CNOOC
0883, -1.73%
and real estate wharf
1997, -2.00%
fell. Hyundai Heavy Industries
009,540, -1.23%
in South Korea and Foxconn
2354, -2.45%
slipped to Taiwan. Beach energy
BPT, -1.49%
slipped to Australia.
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