Asia markets suffer sell-offs on trade row
US-China tension brings Straits Times Index down 45.02 points or 1.5 per cent to close at 3,065.33
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MONDAY'S disappointing performance in Asian equities surprised no one, especially after trade tensions between the United States and China kicked into overdrive during the weekend. But in its wake, the local benchmark is now in the red for the year.
The trade squabbles - a sizeable dent on risk-on sentiment - brought the Straits Times Index (STI) sliding to close 45.02 points or 1.5 per cent lower at 3,065.33, below last year's closing of 3,068.76.
Markets in Australia, China, Hong Kong, Japan, Malaysia and South Korea suffered sharp sell-offs at the opening bell on Monday though there was some recovery towards the end of the session.
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