Emerging markets turmoil, trade jitters hit Asian stocks

Concerns over India's trade deficit and inflation caused by high oil and commodity prices continued to weigh on the rupee, which hit new lows.
Concerns over India's trade deficit and inflation caused by high oil and commodity prices continued to weigh on the rupee, which hit new lows. PHOTO: AFP

Indonesia's rupiah recovers slightly, but India's rupee reaches new low against Sing$

Continued turmoil in emerging market currencies and fears that the trade war between the United States and China will escalate jolted some Asian markets yesterday.

The bloodletting was most evident in China, which faces the imminent prospect of 25 per cent tariffs on a further US$200 billion (S$275 billion) of its exports to the US.

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A version of this article appeared in the print edition of The Straits Times on September 07, 2018, with the headline 'Emerging markets turmoil, trade jitters hit Asian stocks'. Print Edition | Subscribe