Asian markets fell in early trading Thursday, following losses on Wall Street triggered by fresh worries about an economic slowdown.
U.S. stocks are off to their worst start to a quarter since 2008, as the Dow Jones Industrial Average
has lost more than 800 points in the past two days. Data showing slower job creation and weaker manufacturing output are indicating that the Trump administration’s trade war is taking a toll on the U.S. economy.
Global markets were further uneased after the U.S. announced late Wednesday that it planned to slap tariffs as high as 25% on $7.5 billion of European imports, after the WTO ruled the EU improperly favored Airbus over Boeing in a long-running trans-Atlantic dispute.
“The dreary economic data does perhaps suggest that traders could be better sellers in this risk-toxic environment,” Stephen Innes, Asia-Pacific market strategist at AxiTrader, said in a note.
dropped 2% and Hong Kong’s Hang Seng Index
slipped 0.6%. Australia’s S&P/ASX 200
fell 1.9% and New Zealand’s NZX 50
slid 1.2%, while benchmark indexes in Taiwan
all declined. Markets in mainland China and South Korea were closed for holidays.
Among individual stocks, SoftBank
, Fast Retailing
all sank in Tokyo trading. Casino operator Galaxy Entertainment
rose in Hog Kong, while Wharf Real Estate
declined. In Australia, Beach Energy
and Westpac Banking
Source : MTV