"Stock markets in Asia have tumbled, after the latest US tariff threat on China prompted Beijing to warn Washington of retaliation. Hong Kong's Hang Seng lost 2.3%, the Taiwanese market fell by 1.4% and the Thai exchange declined by 2%. In mainland China, the Shenzhen exchange fell by 1.4% and the Shanghai market slipped 0.4%. Japan's Nikkei is closed."
"Trump wrote on Truth Social: Don't worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! Despite the trade tensions, Chinese exports bounced back in September, topping forecasts after the world's second-largest economy diversified its markets."
Asian stock markets dropped sharply following a US threat to impose additional tariffs on Chinese imports, prompting Beijing to warn of retaliation. Major regional moves included a 2.3% fall in Hong Kong's Hang Seng, a 1.4% decline in Taiwan, a 2% drop in Thailand, a 1.4% fall in Shenzhen and a 0.4% slip in Shanghai; Japan's Nikkei was closed. The US indicated plans for 100% tariffs and new controls on critical software by 1 November, while some US officials left the possibility of a trade deal open as futures swung. Chinese customs data showed exports rose 8.3% year-on-year in September, beating forecasts, and imports surged to a 17-month high.
Read at www.theguardian.com
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