(VOVWORLD) - Asian stock markets opened the week with sharp declines, rattled by US President Donald Trump's tariff policies and heavy losses in global markets during the previous trading session.
 Stock price board at Hana Bank, Seoul, South Korea. (Photo: Yonhap/VNA) |
China’s Shanghai Composite Index dropped 4%, while Hong Kong (China)’s Hang Seng Index tumbled nearly 10%.
In Japan, the Nikkei opened 8.42% lower following a 2.75% decline last Friday. The index has now lost nearly 3,000 points since China announced a 34% retaliatory tariff on US goods on April 4, intensifying fears of a global trade war triggered by Washington’s aggressive tariff stance. Japan’s Topix index also slid 8.68%.
In South Korea, the Kospi Index fell more than 4.8% compared to last Friday’s close.
Australia’s S&P/ASX 200 Index dropped 6% at the open and has now officially entered correction territory, down 11% from its February peak.