Asian stocks lower as markets react to failed U.S.-China trade talks
Shares dropped more than 1% in Shanghai, to 2,909.60. Japan’s Nikkei 225 index NIK, -0.52% lost 0.5% to 21,237.71 and the S&P ASX 200 SKJJF, -3.15% declined 0.3% to 6,289.70. South Korea’s Kospi SEU, -1.07% fell 0.7% to 2,093.46. Hong Kong’s markets were closed for a holiday. Shares fell in Taiwan and most of Southeast Asia.
President Donald Trump said on Twitter over the weekend that “We are right where we want to be with China.” He accused China of “ripping off” America. “The lack of resolution in the latest U.S.-China trade talks coupled with continued provocative tweets from President Trump provides no relief for risk sentiment as we look to another weak start to the week for Asia markets,” Jingyi Pan of IG said in a commentary.
Bond prices fell. The yield on the 10-year Treasury note TMUBMUSD10Y, -1.15% rose to 2.47% from 2.45% late Thursday.
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