Asian stocks decline following new US tariffs

Asian stocks experienced a decline on Tuesday following the implementation of new tariffs by US President Donald Trump.

Tokyo’s Nikkei 225 fell 1.2 per cent to 37,331.18, the Hang Seng in Hong Kong decreased 0.4 per cent to 22,922.16, and the Shanghai Composite index rose 0.2 per cent to 3,324.21.

Meanwhile, South Korea’s Kospi dropped 0.2 per cent to 2,528.92, Taiwan’s Taiex declined 0.7 per cent, and Bangkok’s SET fell 1.1 per cent.

Francis Lun, CEO of Geo Securities in Hong Kong, stated that the Chinese tariffs on American beef, corn, soy, and other agricultural products announced on Tuesday have broadened the potential consequences of Trump’s trade strategies.

Attribution: AP

Subediting: M. S. Salama