Asian stocks drop on trade worries, Hong Kong unrest

Wednesday, 13. November 2019 07:12

Markets in Asia traded with sharp losses on Wednesday as investors hopes that the United States and China will reach a deal faded after US President Donald Trump's latest tariff threat. Trump claimed he will "substantially" hike tariffs on Chinese products unless the two sides strike a deal, while his economic adviser Larry Kudlow said he would not "put a timeline on the China trade deal." The unrest in Hong Kong also pulled the stocks down after the region's Legislative Council was suspended as protesters blocked the city's financial center and continued clashing with the police.

Hong Kong's Hang Seng plunged 2.20% at 7:09 am CET. In mainland China, the Shanghai Composite fell 0.57% at 7:09 am CET and the Shenzhen Composite was down 0.14% at 6:56 am CET.

The Nikkei 225 closed 0.85% lower. The dollar added 0.09% against the yen to sell for 109.0745 at 7:08 am CET.

South Korea's Kospi slid 0.91% at 7:11 am CET and Australia's S&P/ASX 200 ended the session 0.81% lower.

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Breaking the News / NP