Economic news

Asian shares fall as selloff of tech shares deepen in U.S.

Asian stocks slumped on Tuesday amid rising trade worries, hough regional index losses were moderate compared with those of their Wall Street peers as traders turned their attention to global growth perspectives.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares dropped 0.35 percent.

Japan’s Nikkei lost 0.8 percent, having dipped 1.6 percent earlier.

China’s Shanghai Composite index slipped 0.9 percent and the blue-chip CSI300 shed 0.7 percent. Hong Kong’s Hang Seng Index dropped 0.6 percent.

Australia’s S&P/ASX 200 Index was virtually flat. South Korea’s Kospi index sank 0.3 percent.

Technology shares were dragged down on Monday by U.S. President Donald Trump's attack on Amazon.com over the formation of pricing of its deliveries through the United States Postal Service.


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