Chinese stocks drop after tariff announcement

Monday, 23. December 2019 07:18

Major stock market indexes in the Asia-Pacific fell on Monday as China's Customs Tariff Commission exposed its plans of "adjusting" import tariffs on some products, starting January 1, in order to "expand imports" and "promote high-quality development of trade." Also, Japan's industry activity fell by 4.3% to 102.6 in October according to a report by the Ministry of Economy, Trade and Industry.

The Nikkei 225 finished flat while the S&P/ASX 200 closed 0.46% down. In Hong Kong, the Hang Seng declined 0.10% at 7:15 am CET. The Shanghai Composite dropped 0.86% at 7:16 am CET and the Shenzhen Composite lost 0.92% at the same time. South Korean Kospi stood flat at 7:16 am CET.

The dollar was flat compared to the yen, losing 0.05% to go for 109.4170 at 7:17 am CET.

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