In South Korea, the decline is greater, around 3 percent.
The stock exchanges in Shanghai and Shenzhen remain closed for the weekend and will reopen on February 5.
In Hong Kong, trading has reopened after the weekend closure for the Chinese New Year, since January 28. There, the reactions to the US announcement of a 10 percent tariff hike against China were milder than expected – minus 0.7 percent for the Hang Seng index.
Looking back, the Hong Kong market is weak after the Chinese New Year and is still digesting Trump's escalation of tariffs, says Billy Leung, strategist at Global X ETF, to the news agency Bloomberg.
If we talk about the consequences of tariffs, 10 percent is better (read: less) than feared, so the risks decrease and we see that more weight is being placed on China's response being relatively mild, emphasizes Leung.
