Huge Plunge in Asia Markets over Trade War Concerns and a Strike in Hong Kong!

Stock markets in Asia traded lower on Monday, August 5, 2019, as the investors had yet to see any promising signs on the trade war that was supposedly under a ceasefire.

The U.S. President Donald Trump tweeted on the previous Thursday that he would impose 10% import tariffs on another $300 billion dollar worth of Chinese goods starting on September 1 after saying that the trade deal had not moved as fast as it should be.

As of 8:55 local time in Thailand, Nikkei fell 1.85%, SSEC skidded 0.66%, HSI plunged 2.22%, ASX 200 slid 0.87% and Kospi sank 2.06%.

Most of the Investors will watch for market reactions in Hong Kong as there is a planned general strike aiming to bring the city to a pause today after weeks of protest which is now escalating despite the announcement of a “dead extradition bill” by Hong Kong Chief Executive Carrie Lam.

On Friday, August 2, 2019, SET closed at 1,684.71 points, declieded 15.04 points or 0.88% with a trading value of THB 82.04 billion. The plummet was due to the news of trade war over Thursday night while there were several bombs occurred on Friday morning in Bangkok.