Asian stocks continue to slide as traders' fears of a trade war continue to ramp up
- Upcoming tariffs are keeping Asia session equity indexes on the decline.
- June 6th sees US tariffs targeting China come into effect, and traders are awaiting action from China.
Asian equities are on the back foot once again on Tuesday, with Japan's Nikkei 225 testing into the 21,600.00 level.
Asia bourses are continuing to move defensively ahead of the June 6th deadline for the US' latest round of tariffs targeting Chinese goods, and markets are tensing while they wait for China's response, while the prospect of a deepening trade war between the two nations continues to knock overall market sentiment lower in the lead-up to the tariffs.
Japan's Nikkei 225 is down -0.94% so far in Tuesday's trading, while Hong Kong's Hang Seng index is down -2.7% and Shanghai's CSI 300 is in the red by -1.85%, and the MSCI Asia Pacific index is lower at -1.22%.
Nikkei 225 levels to watch
The Nikkei is moving into new two-month lows, running into the 21,600.00 barrier with May's low turning into resistance from 21,910.00 and June's high sitting far above at the 23,000.00 key barrier.
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
