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A day earlier on Thursday, the Asian stock market continued to decline again on Friday. At the peak between the US and China, the trade tension is directly affecting the wall street. Japan’s Nikkei slipped 225 points i.e. 5.46 percent. Earlier, the tariff on the tariff placed on many countries by Trump was brightened in the Asian market. Nikkei saw a rise of 9% on Thursday.
Retail shares fell by 3.87%. Tokyo Electron’s stock fell down 5 percent and Advantest Stock also fell 7.5 percent. After a decline in all 22 industry sub -index of the Tokyo Stock Exchange, Japanese Prime Minister Shigeru Ishiba formed a task force to carry out business talks with the US.
International market declines
Minister of Economic Affairs Ryosei Akazawa will lead this task force and the media there says that it is expected that he will visit Washington next week. KOSPI of South Korea has also fallen by 1.55 percent while KosDaq slipped 0.11 percent. Hong Kong’s Hang Seng also started with a fall.
Australia shares also saw a decline of more than 2 percent. S&P/ASX 200 index slipped down 2.4 percent to 7,524.50. New Zealand’s benchmark S&P/NZX 50 index also saw a softening of 1.5 percent.
Effect of US China Trade War
Significantly, US President Donald Trap has put a brake on a 90 -day tariff against those countries, who did not take the answer. Whereas, the tariff over China has been further increased. Now the total figure of tariffs over China has increased to 154 percent. The White House confirmed this. According to news agency Reuters, China is also constantly taking steps in response to Trump’s tariff. In such a situation, there has been an increased threat that the rate of tariffs imposed on the US from Beijing can be increased further by 84 percent.
Three major stocks of the US stock market continued to decline. The Dow Jones average slipped down 2.50% while S&P saw 3.46 percent slippery and 4.31 percent in Nasdaq Composite.
