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Asian equities plunged in early trading on Monday as a global stock market rout continued following a weekend where us officials made no indication they would back down from Donald Trump’s sweeping new Tariff Regime.
Japan’s Benchmark Topix Index Fell over 9 per cent in the first 30 minutes of trading, while South Korea’s Kospi dropped 5 per cent. Australia’s S & P / ASX 200 Fell 6.1 per cent.
Oil futures dropped further as expectations of a slowdown in global demand grew. Brent Crude Prices, The International Benchmark, Lost 3.7 Per Cent to Reach $ 63.2 per Barrel.
Haven assets continued to rally. The yen strengthened 1 per cent to ¥ 145.5 per dollar while the 10-year japanese government bond yield dropped 0.14 percentage points to 1.05 per cent. Yields on us 10-year treasuries dropped 0.1 percentage points to 3.89 per cent.
