Economic news

Asian equities post another day of broad declines

Asian shares skidded for the fourth straight session and major currencies fluctuated on Thursday, with financial markets anxiety due to fresh trade restrictions between two world's largest economies.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares, which has been sliding since Monday, lost 0.5 percent. The index has dropped almost 2 percent this week, during which it tumbled to a nine-month weak point.

Japan’s Nikkei fell 1 percent, South Korea’s KOSPI was down 0.75 percent, Hong Kong’s Hang Seng shed 0.9 percent and the Shanghai Composite Index was 0.9 percent lower.

On July 6, a 25 percent tariff on $34 billion of U.S. goods will take effect.

Beijing has urged the EU leaders to issue a strong joint statement versus U.S. President Donald Trump’s trade measures, Reuters reported.

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