Asian indices jumped after China announced that it will implement new tariffs


Markets in Asia started the week on the green zone after China imposed fresh tariffs on goods from the United States, following President Donald Trump’s proposal on the previous month.

The Japanese benchmark Nikkei 225 index rose as high as 0.52 percent, recovering from the red zone on the opening of the market. Meanwhile, the Topix index added more than 0.32 percent. Fast retailing stocks in Japan jumped by 0.86 percent, with automakers and the rest of the retailing sector buoyant on early trade.

Across the Korean Strait, the Kospi index edged up by 0.6 percent on the day. The biggest ship makers in the nation, however, dropped on the session. A good performance from the energy and auto sector offset the declines.

The Strait Times index in Singapore was also marginally higher on the session by 0.26 percent and Taiex index in Taiwan added more than 0.27 percent. Meanwhile, markets in New Zealand, Australia, and Hong Kong were shut due to Easter holiday. Markets on Wall Street were also closed.

Looking at mainland markets, the Shenzhen composite was 0.32 percent up and the Shanghai composite inched up by 0.03 percent on Monday.

The tension between China and the United States is still currently developing. China announced on the day that it will implement tariffs on 128 types of imports in the United States. It matched a list of products Beijing proposed last month and comes as a direct to Trump approving tariffs.


Leave a Reply

Your email address will not be published.