[HONG KONG] Asian stocks largely fell on Tuesday, reversing early gains on a bargain-hunting push by investors, as global trade tensions continued to weigh on markets.
Mr Trump followed up his threats against Mexico last week with an announcement that Washington would withdraw preferential trade treatment to India, starting Wednesday, in a bid to press New Delhi to increase market access to US goods.The US ISM manufacturing index released on Monday - and compiled prior to the recent tariff threats - highlights"the importance of doing business with Mexico", Oanda senior market analyst Edward Moya said.
Hong Kong fell 0.7 per cent while Shanghai plunged 1.1 per cent. Taipei lost 0.4 per cent and Seoul inched down 0.1 per cent. But Singapore edged up 0.1 per cent while Sydney made modest gains of 0.2 per cent.American tech giants sank on Monday on reports that Washington planned to intensify its antitrust scrutiny of the sector.
But trade tensions remained the dominant issue on investors' minds, extending a decline in oil prices.
Source: News Formal (newsformal.com)
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