Asian markets at six-month low

The trade war tensions have escalated and the Asian markets have been rattled and have reached 6-month low post the deepening of trade war between the US and China.

The MSCI broad index of Asia-Pacific touched its lowest point since early December. Hong Kong’s Hang Seng index dropped as much 3.9 per cent for the week, while Japan’s Nikkei index lost 1.47 per cent for the week.

In the trade war, the Chinese markets have been impacted by more than 5 per cent across the board. The Shanghai Composite index has lost 4.37 per cent for the week.

The European indices have also closed lower by more than 3 per cent across the board for the week and are currently trading positive with gain close to 0.8 per cent. The Germany’s DAX has lost the most among the European indices ,with a 3.43 per cent loss for the day.

Lastly, the global markets are awaiting decision from the OPEC meeting on increasing the oil output. The Brent crude prices are currently up by 2.12 per cent at $74.6 per barrel