On Monday, stock markets located in Asia reacted to the problems created by new tariffs. Starting from Sunday, the U.S. imposed additional tariffs on Chinese products. The trade war created various issues for the stock markets in Asia and around the world.
As mentioned above from September, the U.S. imposed tariffs on $112 billion on the Chinese goods. China responded with $75 billion imposed on American goods. This was the result of the tariffs imposed by the U.S. and China.
Stock markets on September 2
The shares of Chinese indexes rose on September 2. For instance, the index of the Shanghai composite increased by 1.31% to was close to 2,924.11. Another Chinese index the Shenzhen component rose by 2.18% to 9,569.47. Shenzhen composite was also on the rise. Its index increased by 2.259% was close to 1,614.92.
For instance, Chinext index increased by 3.04% and was close to 1,944.42. This fact, once more highlighted that investing in the high-tech sector is a lucrative business.
Another country which gained from this situation is South Korea. The local Kospi index increased a little bit, and at the end of the trading day, its index reached 1,969.19.
Australian index S&P/ASX 200, on the contrary, decreased on Monday. Its index fell by 0.38% and was close to 6,579.40.
However, the situation was different in Japan, which has the third-largest economy in the world. The shares of Japanese indexes fell on September 2. The Nikkei 225 index fell by 0, 41% was close to 20,620.19. Topix index also fell by 0.44% to 1,505.21.
Komatsu LTD shares decreased by 0.2%. Oil and natural gas developer’s shares also fell on Monday. The shares of Inpex fell by 1.7%. Oil developer Japan Petroleum Exploration Co, also faced problems as its shares fell by 1.7%.
Fortunately, at least some of the Japanese companies managed to gain from this situation. The shares of Mitsui OSK Lines, Kawasaki Kisen Kaisha, and others, as well as the shipping companies, increased on September 2.