Asia markets traded lower Tuesday morning as the U.S.-China trade war intensified, after Beijing confirmed it is suspending agricultural product purchases in response to new American tariffs.
President Donald Trump said last week the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1.
The MSCI Asia ex-Japan index declined 0.76%. In Japan, the Nikkei 225 plunged 2.61% in early trade, as shares of index heavyweight and robot maker Fanuc declined 3.69%. The Topix index also fell nearly 2.4%.
South Korea's Kospi dropped 1.6%, as chipmaker SK Hynix saw its stock drop 2.92%. Australia's S&P/ASX 200 slipped 2.48%.
Source : CNBC