Casualties of US-China trade war, Bursa extends loss

Stocks tumble: The Hang Seng Index closed at 29,468.15, a loss of 2.78, in Hong Kong yesterday. Hong Kong and Shanghai stocks led a sell-off across Asian and European markets on rising fears of a trade war after Trump threatened fresh tariffs on Chinese imports and Beijing warned of countermeasures. — AFP

PETALING JAYA: The intensifying trade war between the world’s two largest economies led investors to flee riskier assets especially equities, causing a selldown in major equity markets.

It was a sea of red for stock exchanges globally yesterday, including in Asia, after US President Donald Trump ordered the US Trade Representative to identify US$200bil worth of Chinese goods for additional tariffs at a rate of 10%.