MarketNews

Asian Cuntries’ Stocks Lower as Sino-US Trade Issues Weigh

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.

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