Asia Markets: Asian markets slump after U.S. announces $200 billion in new tariffs on China

MarketWatch - Financial Services Industry News

Asian stock markets fell Wednesday after the Trump administration announced it plans to slap tariffs on a further $200 billion of Chinese imports.

Read: U.S. unveils tariffs on another $200 billion of Chinese goods

But benchmarks recovered from session lows, with indexes in China, Hong Kong and Japan all down around 1.5%. Australia’s S&P/ASX
XJO, -0.66%
 , Korea’s Kospi and Taiwan’s Taiex
Y9999, -0.81%
 narrowed their declines to less than 1%, while New Zealand’s benchmark
NZ50GR, -0.10%
  was little changed. S&P 500 futures
ESH9, -0.76%
  fell 0.8%

After three days of solid gains, Japan’s Nikkei
NIK, -1.38%
  was last down 1.3%, with exporters hit the hardest. Automakers Honda
7267, -1.62%
 , Toyota
7203, -0.59%
  and Nissan
7201, -2.50%
  all fell, while chip-equipment maker Advantest
6857, -1.44%
  and imaging manufacturer Canon
7751, -0.96%
  dropped around 1%.

Tech and auto companies also weighed down South Korea’s Kospi
SEU, -0.71%
 , with Samsung
005930, -0.97%
 and Hynudai
005380, -2.02%
 slipping about 1%.

In China, the Shanghai
SHCOMP, -1.87%
  and Shenzhen
399106, -2.22%
  composites recovered slightly after falling more than 2% in early trading. Hong Kong’s Hang Seng
HSI, -1.56%
  also stemmed early losses, with Tencent
0700, -2.07%
 and AIA
1299, -0.44%
  posting declines.

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