Asian markets traded mostly lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war. Financial Markets around the globe are all poised to take losses following Trump’s ‘Trade Wars’.
Chinese mainland markets opened lower, with the Shanghai composite down 1.17 percent while the Shenzhen composite fell by half a percent. In Hong Kong, the Hang Seng index declined 0.25 percent.
In Australia, the benchmark ASX 200 was down 0.57 percent at 5,787.30 in afternoon trade. The heavily weighted financial sector was down 0.93 percent.
Major banking stocks in the country fell — shares of ANZ ,Commonwealth Bank and the National Australia Bank dropped amid the looming uncertainty around the global trade wars.
In Japan, the Nikkei 225 recovered from some early significant early losses to trade down 0.4 percent in mid-morning trade. The Topix index was down 0.67 percent.
In Korea Strait, the Kospi also reversed early losses to climb 0.2 percent, bucking the general downward trend across the region.
Trading in the global financial markets is expected to be volatile across all markets as markets will react to the weekend announcements.
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