Economic news

Asian shares drop on new U.S. taxes against Europe

On Thursday Asian shares decline from rising worldwide fears, after New York markets dropped overnight because the U.S. started another exchange war by saying it will force taxes on $7.5 billion of products from the EU.

tokyoPhoto: Flickr

MSCI's broadest equity indicator of Asia-Pacific stocks outside Japan tumbled 0.38 percent. Japan's Nikkei stock equity indicator edged by 1.96 percent lower and Australian stocks slipped 2.19 percent.

Hong Kong's Hang Seng Index skidded 0.4 percent. Australia's S&P/ASX 200 tumbled 1.8 percent and New Zealand's NZX 50 lost 1 percent, while benchmark equity indicators in Taiwan, Singapore, Malaysia and Indonesia all tumbled. Markets in mainland China and South Korea were shut for public celebration.

Among individual shares, SoftBank, Fast Retailing, Toyota and Honda all slipped in Tokyo exchanging. Galaxy Entertainment gained in Hong Kong, while Wharf Real Estate and CNOOC edged lower. In Australia, Beach Energy, BHP, and Westpac Banking all tumbled.

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