Economic news

Asian shares slide following a fall in U.S. equities

Asian stocks wobbled on Wednesday as traders remained cautious over the threat of new U.S. tariffs on China's imports, shrugging off better-than-expected data from the world's №2 economy.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares slumped 0.7 percent, pulling back from a 1-1/2 month peak on Tuesday.

Japan's Nikkei tumbled 0.8 percent.

China's SSE Composite index and the blue-chip CSI 300 sank 0.5 percent each. Hong Kong’s Hang Seng Index fell 1.3 percent.

Australia’s S&P/ASX 200 Index lost 0.7 percent.

Investors also assessed U.S. President Donald Trump’s decision to dismiss his Secretary of State Rex Tillerson, reviving market uncertainty about Trump’s future moves.

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