Technology counters bear brunt of Asian equities sell-off as trade fears grow
Tokyo — World stocks extended a sell-off on Tuesday as an escalating trade fight between the US and other major economies steered investors away from riskier assets, with markets in China bearing the brunt of investor anxiety.The tense backdrop lifted safe-haven US Treasuries and kept the dollar on the defensive as financial markets worried about the wider global economic fallout of the Trump administration’s "America First’ agenda.Asian equities were bathed in a sea of red after Wall Street tumbled overnight, with the S&P 500 and Nasdaq suffering their steepest losses in more than two months overnight.Markets in China — the epicentre of the trade tension with the US — took the biggest knock.MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.35%. Hong Kong’s Hang Seng retreated 0.4%, the Shanghai composite index slid 0.8% and Japan’s Nikkei shed 0.2%. Equities from tech-heavy regions such as South Korea’s Kospi and Taiwan fell 0.9% and 0.75%, respectively.Taiwan Semic...
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