On Tuesday, Asian equities headed north, with Chinese shares adding nearly 0.5% right after Donald Trump told that he’ll probably ramp up levies on $200 billion of China’s products.
US leader told that he actually expects to proceed with lifting duties on $200 billion in China’s imports to 25% from the current reading of 10%.
American President told he’s ready to accept the Asian country’s China's request to postpone that lift scheduled on January 1. The remarks ran counter to recent rumors about a probable agreement when US leader meets Chinese President Xi Jinping at the highly-anticipated G20 summit in Argentina this week.
Apple went down by 2% in after-hours trading because Trump told that the new levies could affect laptops and iPhones imported from China. Trump added that the rate could be either 25% or 10%.
By the way, Apple’s products are exempt from the duties now. As for the equities of the company’s Asia-listed suppliers, they demonstrated mixed performance. Hon Hai Precision slumped by 0.7%. On the contrary, Pegatron managed to rally by up to 0.4%.
In addition to this, in China, the Shanghai Composite as well as the Shenzhen Component managed to tack on by respectively 0.4% and 0.5%.
Besides this, the Hang Seng Index was nearly intact in Hong Kong coming up with a reading of 26,361.00.
Apart from that, Japan’s Nikkei 225 headed north by up to 0.7%. Moreover, chat app operator Line Corp headed south by up to 9% following reports that it’s already teaming up with Hong Kong-listed Tencent Holdings Ltd for the purpose of providing mobile payment services to small Japanese retailers.
In addition to this, the KOSPI index ascended by nearly 0.6% in South Korea.
Meanwhile, in Australia, the ASX 200 index managed to surge by 1%.
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