Stock markets across Asia reacted to the news that tariffs imposed by the U.S. were enacted on Sunday. It means that starting from Sunday the U.S. imposed new tariffs on products imported from China. The trade war continues to affect the stock markets in Asia as well as in other regions across the world. This trade dispute started in 2018, but its importance to the global economy makes it the central topic of any discussion. Until this day, various sectors are looking for the solution to minimize the damage caused by the trade war.
The U.S. enacted tariffs on $112 billion on the Chinese products. China responded with $75 billion imposed on American goods. This is the latest tariffs imposed by the U.S. and China.
Stock markets on Monday
Chinese shares increased on September 2. The index of Shanghai composite increased by 1.31% to is close to 2,924.11. Meanwhile, the Shenzhen component rose by 2.18% to 9,569.47. Another Chinese index Shenzhen composite is also on the rise. Its index increased by 2.259% is close to 1,614.92.
Other Chinese indexes also increased as well. For instance, Chinext index rose by 3.04% and is 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 is close to 6,579.40.
The situation is different in Japan which has the third-largest economy in the world. The shares of Japanese indexes decreased on Monday. The Nikkei 225 index fell by 0, 41% is close to 20,620.19. Another Japanese index Topix index also decreased by 0.44% to 1,505.21.
The shares of Japanese companies also experienced problems. Komatsu LTD shares decreased by 0.2%. Oil and natural gas developers are among the companies affected by this news. The shares of Inpex fell by 1.7%. Another Japanese oi developer Japan Petroleum Exploration Co, also faced problems as its shares fell by 1.7%.
Hopefully, shares of Japanese companies such as Mitsui OSK Lines, Kawasaki Kisen Kaisha and others, including the shipping companies, increased on Monday.