Asia-Pacific markets plunged Monday ahead of U.S. President Donald Trump’s fresh round of tariffs expected later in the week, with Japan’s Nikkei 225 entering correction territory.
In Japan, the Nikkei 225 was roughed up 1,502.77 points, or 4.1%, to 35,617.56, losing 12% from its December high.
In Hong Kong, the Hang Seng index lost 307.02 points, or 1.3%, to 23,119.58
Korean issues lost ground with the markets regulator allowing short-selling Monday after the longest ban on the activity in the country’s history.
Markets down under slumped ahead of the Reserve Bank of Australia’s policy meeting on Tuesday. The central bank is widely expected to stand pat on interest rates at 4.1% as the country heads to the polls on May 3.
CHINA
The CSI 300 in mainland China slid 27.86 points, or 0.7% to 3,887.31
China’s NBS Manufacturing PMI for March came in at 50.5, in line with predictions by economists polled by Reuters and slightly higher than 50.2 reading in the previous month.
In other markets
In Singapore, markets were shuttered for holiday.
In Taiwan, the Taiex index shed 906.99 points, or 4.2%, to 20,695.90
In Korea, the Kospi skidded 76.86 points, or 3%, to 2,481.12
In New Zealand, the NZX 50 dropped 17.46 points, or 0.1%, to 12,270
In Australia, the ASX 200 dipped 138.59 points, or 1.7%, to 7,843.42.
