Asia stocks declined Wednesday as investors digested ongoing developments in the U.S.-China trade negotiations, which sent stateside shares tumbling overnight.
In Japan, the Nikkei 225 tumbled 321.13 points, or 1.5%, to 21,602.59, with shares of index heavyweight Fanuc declining 2.2%.
The Japanese yen, viewed as a safe-haven currency, traded at 110.15 against the dollar after strengthening from levels above 110.5 in the previous session.
In Hong Kong, the Hang Seng Index swooned 359.82 points, or 1.2%, to 29,003.20
Korea lost ground, with Samsung Electronics shares declining 1.3%.
Australian markets gave way, as most sectors slipped. Shares of TPG Telecom plunged 13.5% after the company’s merger with Vodafone was blocked by the Australian Competition and Consumer Commission.
The Australian dollar changed hands at $0.7018 U.S. from levels around $0.704 seen yesterday.
CHINA
In Shanghai, the CSI 300 index slumped 53.21 points, or 1.4%, to 3,667.46
Chinese trade data for April showed both exports and trade surplus missed expectations while imports surprisingly rose. Customs data showed trade surplus was $13.84 billion, far lower than the $35 billion analysts had expected.
April exports fell 2.7% from a year ago. They were expected to have risen 2.3% from a year earlier, according to economists.
In other markets
In Korea, the Kospi index fell 8.98 points, or 0.4%, to 2,168.01
In Singapore, the Straits Times Index slipped 28.68 points, or 0.9%, to 3,283.84
In Taiwan, the Taiex Index deleted 63.43 points to 0.6%, to 10,923.71
In New Zealand, the NZX 50 gained 35.66 points, or 0.4% to 10,063.05
In Australia, the ASK 200 doffed 26.53 points, or 0.4%, to 6,269.15
