Asian shares mixed as US stocks tumble on tariffs woes
Asian shares were mixed on Monday after US stocks fell sharply as reports showed the economy may be suffering as consumers and businesses fret over President Donald Trump’s policies
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Bangkok: Asian shares were mixed on Monday after US stocks fell sharply as reports showed the economy may be suffering as consumers and businesses fret over President Donald Trump’s policies. Markets were closed in Tokyo for a holiday. Hong Kong’s Hang Seng index edged 0.1 per cent higher to 23,494.21 and the Shanghai Composite index shed 0.2 per cent to 3,373.03. In Australia, the S&P/ASX 200 gained 0.1 per cent to 8,308.20. South Korea’s Kospi lost 0.4 per cent to 2,645.27, while the Taiex in Taiwan fell 0.7 per cent. India’s Sensex declined 1 per cent.
On Friday, the S&P 500 sank 1.7 per cent for its worst day in two months, closing at 6,013.13, after several weaker-than-expected reports on the US economy. The Dow Jones Industrial Average dropped 748 points, or 1.7 per cent, to 43,428.02, while the Nasdaq composite tumbled 2.2 per cent to 19,524.01.
A report from S&P Global suggested US business activity is close to stalling, with growth slowing to a 17-month low as activity unexpectedly shrank for US services businesses.
