Markets in Asia closed steeply lower on Wednesday, with most major indexes tumbling following the release of a list of an additional $200 billion in Chinese goods on which the U.S. is considering imposing tariffs.
In Japan, the Nikkei 225 lost 264.68 points, or 1.2%, to 21,932.21, as trade-sensitive stocks, such as automakers, dropped: Honda Motor was down 1.04 percent and Nissan dropped 2.1%. Most other sectors traded lower with losses in the afternoon.
In Hong Kong, the Hang Seng plummeted 370.56 points, or 1.3%, to 28,311.69, moderating somewhat after earlier losing more than 2%. The materials sector led losses in the afternoon, with the index's other sectors all trading lower in the afternoon.
Korean markets lost ground, as South Korean exporters took a hit amid broad-based declines. Hyundai Motor declined 1.6% and tech heavyweight Samsung Electronics lost 0.7%
Over in Australia, markets slid, with the energy, materials and utilities sectors recording the largest declines.
CHINA
In Shanghai, the CSI 300 dropped 59.99 points, or 1.7%, to 3,407.53
The goods on the U.S. government's list would be subject to 10% tariffs, according to a statement from U.S. Trade Representative Robert Lighthizer, who said his office will proceed with a public notice and comment period before the levies are officially imposed.
In other markets
In Singapore, the Straits Times Index handed back 25.75 points, or 0.8%, to 3,249.08
In Taiwan, the Taiex index backpedaled 80.05 points, or 0.7%, to 10,676.84
In Korea, the Kospi index was negative 13.54 points, or 0.6%, to 2,280.62
In New Zealand, the NZX 50 dumped 21.54 points, or 0.2%, to 9,001.39
In Australia, the ASX 200 subtracted 42.5 points, or 0.7%, to 6,215.60
