On Tuesday Asia stocks fell following Chinas increased taxes on some U.S products. The move was described as a strike back on Washington’s decision to increase duties on Chinese goods.
The Nikkei 225 in Japan dropped more than 0.7%, with Softbank Group shares falling more than 5%. The Topix index too fell about 0.6%. Mainland Chinese shares moved lower while the Shanghai composite fell lower by more than 0.3%. The Shenzhen composite decreased by about 0.4%. Hong Kong’s Hang Seng index dropped about 1.5% while Tencent shares dropped more than 2%.
More tariffs for China
Daily Analysis - 14/05/2019