In South Korea, the Kospi declined 0.95% to close at 1,998.13. Australia’s S&P/ASX 200 slipped 0.3% to finish the session Down Under at 6,768.60 despite the country posting its fastest retail sales growth in four months. And the closely watched MSCI Asia ex-Japan index, a broad measure of the region, declined 1.71%.
· Japan’s Nikkei hit a six-week low on Friday after U.S. President Donald Trump unveiled plans to impose new tariffs on China, reviving trade war concerns and slugging exporter and manufacturing firms.
The Nikkei share average ended the day down 2.11% at 21,087.16 after going as low as 20,960.09, its weakest since June 18.
Global equity markets were shaken after Trump said on Thursday that he would slap a 10% tariff on $300 billion of Chinese imports from Sept. 1. He added that the tariffs could be raised further if China’s President Xi Jinping failed to move more quickly to strike a trade deal.
· Chinese markets slumped on Friday, with investors rushing for cover after U.S. President Donald Trump slapped fresh tariffs on China citing a lack of progress in their trade talks.
Trump said on Thursday he would impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1, breaking a ceasefire in the trade war since his meeting with Chinese President Xi Jinping at the G20 summit in June.
The U.S. leader said Xi was moving too slowly in the negotiations, after being briefed by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on their meeting with Chinese officials this week, which were the first such in-person talks since the June trade truce.
Chinese shares plummeted with the Shanghai Composite Index falling 1.4%, down 2.6% for the week. The blue-chip CSI300 fell 1.5%. In Hong Kong, the Hang Seng Index shed 2.4% and H-shares 2.7% as of0744 GMT.
· European stocks plunged on Friday after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month.
The pan-European Stoxx 600 tumbled 1.5% in early trade, basic resources and auto stocks falling 3.1% and 2.4% respectively as all sectors and major bourses traded sharply in the red.
· Several bombs exploded in Bangkok on Friday morning, injuring three people, as the city hosted a regional summit also attended by US Secretary of State Mike Pompeo.
A total of six bombs detonated at three locations and one explosive device was recovered before it blew up, a senior police officer told Reuters.
Pol Col Kamtorn Uicharoen said three bombs exploded at the Government Complex in Chaeng Wattana and one failed to go off. Two others went off in the Chong Nonsi area.
Prime Minister Prayut Chan-O-Cha was told of "the bombing incidents and has ordered an immediate investigation", government spokeswoman Narumon Pinyosinwat said, adding "security measures have been tightened. The public is urged not to panic".
Reference: CNBC, Bangkok Post
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