Asian stocks open lower on new round of US tariffs

Asian stocks opened the session on Friday on red after US President Donald Trump decision to impose a 10% tariff on Chinese imports worth $300 billion, the decision will come into force on September 1st, and we would like to point out that the activation of the resolution will coincide with a new round of trade talks between the United States and China in Washington.

The last two rounds of trade negotiations between the United States and China in Shanghai were followed last Wednesday by China's official Xinhua news agency saying that the two sides conducted "frank and effective in-depth exchanges," while the White House also said Wednesday that the two sides discussed issues such as forced technology transfer and intellectual property rights as well as non-tariff and agricultural services and barriers.

Japanese stock indices saw a decline during today's trading session, with the broader Topix index falling by 2.05% to lose 32.18 points down to the level of 1,535.17, Nikkei 225 index  fell by 2.25% to shed 483.96 points down to the level of 21,057.03.

China's benchmark index, CSI 300 fell by 1.50% (57.19 points) to 3.746.28, the Shanghai Composite index fell 1.40% (40.72 points) to 2,868.04.

Hong Kong's Hang Seng Index fell 2.03% (560.94 points) reaching 27,004.76. South Korea's Kospi Index fell by 1.01%, shedding 20.37 points to 1,996.97.

To the New Zealand NZX 50 index, which fell 0.31% (33.60 points) to 10,827.21. On the other hand, Australia's S&P/ASX 200 index shed 0.43%, (29.43 points) to 6,759.50.