Asian stocks fall on trade worries

Wednesday, 04. December 2019 07:22

Asian stocks mostly fell on Wednesday on fresh fears the United States and China will not reach a trade deal anytime soon after US President Donald Trump stated he may prefer the agreement to be made after the 2020 presidential election. Meanwhile, tensions between Washington and Beijing increased following the US House's decision to pass a bill condemning China's alleged human rights abuses of Uyghur Muslims in Xinjiang. China slammed the US over the move, urging it to stop interfering in its internal affairs.

The Nikkei 225 closed 1.05% lower. The dollar dipped 0.05% against the yen to go for 108.5750 at 7:15 am CET.

Hong Kong's Hang Seng dropped 1.04% at 7:16 am CET. In mainland China, the Shanghai Composite lost 0.39% at 7:15 am CET and the Shenzhen Composite was down 0.06% at 7:15 am CET.

In South Korea, the Kospi declined 0.81% at 7:19 am CET and Australia's S&P/ASX 200 plunged 1.58% at the end of the session.

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Breaking the News / NP