Shares in Asia have been lower during Wednesday afternoon trade as rising tensions between the U.S. and China weighed on investors’ behavior.
The Nikkei 225 in Japan slipped 0.61% in the afternoon, as shares of index heavyweights Fast Retailing and Softbank Group settled over 1% each. The Topix index further fell by about 0.6%.
In Australia, the ASX 200 shed 0.83% as all of the sectors traded lower.
South Korea’s Kospi plunged the overall development because it rose 0.35%, with shares of business heavyweight Samsung Electronics and chipmaker SK Hynix surging higher. The MSCI Asia ex-Japan index was fractionally on top at 497.36, as of 12:13 p.m. HK/SIN.
Mainland Chinese shares declined by the afternoon, with the Shanghai composite sliding 0.83% and the Shenzhen component dropping 1.27%. The Shenzhen composite also fell 1.125%.
In Hong Kong, the Hang Seng listing shed earlier gains to weaken 0.42%.
In U.S. markets, the Dow Jones Industrial Average shut 221.36 factors lower at 25,126.41 — failing over 200 levels for the second consecutive day — while the S&P 500 glid by about 0.7% to end its trading day at 2,783.02. The Nasdaq Composite sank by about 0.8% to shut at 7,547.31.
The strikes on Wall Street came as the 10-year Treasury notice yield befell its lowest degree since September 2017 before bouncing to about 2.26%. A portion of the yield curve further tipped as 3-month Treasury payments produced 2.36%, well above the 10-year rate. The phenomenon, often known as a yield curve conversion, is seen by traders as a possible signal that a recession may be on the border.
In the meantime, traders continue to wait for progress on the U.S.-China commerce front, with Beijing making threats this week.