Stocks in Asia decline ahead of US-China trade negotiations
According to trade analysts, the growing uncertainty in market has led to the decline in stocks.
Mainland Chinese stocks declined by 0.14%, Hong Kong’s Hang Seng index shed 0.68% as shares of Chinese tech behemoth Tencent dropped 1.24%.
The Nikkei 225 in Japan slipped 0.64% while the Topix index shed 0.42%. In Australia, the S&P/ASX 200 declined 0.7% as most of the sectors traded lower.
Overall, the MSCI Asia ex-Japan index shed 0.57%.
Moreover, Apple’s shares also declined in Asia due to the criticism from Chinese state media on the company which is allowing an App on its phones used by protestors in Hong Kong.
The trade fight between the U.S. and China has already lasted for more than a year now with both parties slamming tariffs worth millions of dollars on each other each other.