Asian stock exchanges dive after the US duties on China. Nikkei loses over 5 percent

Asian stock markets opened on Friday with declines, responding to a slump to Wall Street caused by fears to escalate the trade war between the USA and China after the White House announced a decision to increase the customs duties on imports from China with 125 percent. up to 145 percent

The declines on the Nikkei 225 Tokyo were the most violent. This index lost over 5 percent. in the first 15 minutes of trade. The morning session ended with a decrease exceeding 4 percent.

They also disconnected Kospi in Seoul in the early hours of quotations – 1.6 percent, and ASX 200 in Sydney – about 2 percent.

There were also losses in Wellington, Jakarta and Manila. The exception was the stock exchange in Ho Chi Minh (Daw.

In Taiwan, Taiex initially fell by 2.5 percent, but recorded a small (0.2 percent) increase.

In continental China, the morning quotations of Shanghai Composite in minus 0.2 percent, and in Hong Kong Hang Sengued by less than a percentage.

In recent days, Beijing has shown determination to stabilize Chinese markets by mobilizing public banks and investment companies controlled by the state. The authorities also announced on Friday that they would implement a moderately loose monetary policy to calm investors.

Inheritances are a reaction to the Thursday breakdown in American markets, where the S&P 500 fell by 3.46 percent, Nasdaq by 4.26 percent, and Dow Jones by 2.54 percent. The reason is the fear of escalation of the trade war between the USA and China, after the announcement of the White House about the increase in duties to Chinese exports to 145 percent.

From Beijing Krzysztof Pawliszak (PAP)

KRP/ ZM/