Economic news

Asian stocks fall on rising protectionist measures

Asian stocks dropped to a 2-1/2 week nadir on Monday as traders assessed the escalation in trade relations between the U.S. and China after both nations announced tariffs on each other’s goods.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares slipped 0.5 percent to its weakest level since May 31.

Japan's Nikkei dipped 0.8 percent as concerns over rising protectionism darkened better-than-predicted export figures.

South Korean markets posted sharp decline, with the main gauge Kospi sliding 1.16 percent to 2,376.24.

Anxiety about world trade war weighed on oil markets, which continued Friday's large drop, while the dollar pulled back from almost 3-week peak versus the safe haven yen.

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