Economic news

Asian markets see volatile trading after tech-led slump on Wall Street

Asian stocks erased declines on Tuesday on hopes for progress in the Sino-U.S. tariff dispute, despite overnight's rout, led by tech sector, on Wall Street.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares sank 0.5 percent, reversing earlier decline of 1.7 percent.

Japan's Nikkei dipped 2 percent, dragged down by declines in electric machinery makers and suppliers of Apple's iPhone components after three suppliers downgraded outlooks, pushing tech-heavy Nasdaq sliding over 2 percent.

Hong Kong’s Hang Seng Index dropped 0.2 percent, while the Shanghai Composite rose 2 percent.

South Korea's Kospi slumped 0.5 percent and Australian stocks lost 0.18 percent.

In commodities, U.S. WTI futures slipped 78 cents to $59.15 per barrel. International benchmarks Brent dropped 68 cents to $69.44.

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