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Asian stock market trade ended in red territory against fears for US-China trade war

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The Asian stock market trade ended in red territory on Wednesday after the US Secretary of State Rex Tillerson was fired earlier in the day and continued speculation about a possible US-China trade war.
The Japanese blue chip index Nikkei 225 fell by 0.87%, or 190.81 points, ending the session at 21,777.29 points. On the other hand, the broader Topix fell by by 0.45%, with most of its sectors finishing on red. Exception was the Topix iron and steel index, which rose by 0.08%.
The South Korean main index Kospi also finished the day with a fall of 0.34% to 2,486.08 points. The car makers enjoyed a good performance, but failed to compensate the losses in other sectors. The technological companies have sent mixed signals, as Samsung SDI ended the stock exchange session with a 2.23% price increase.
In China, the markets have exposed investors’ concerns about a possible trade war with the United States. Hong Kong’s Hang Seng Index declined by 1.37%. In the continental parts of the country, the markets were under pressure, despite yesterday’s data on industrial production and investment in fixed assets that exceeded expectations. The Shanghai Composite index fell by 0.57% and ended the session at 3291.26 points. The smaller Shenzhen composite fell by 0.89% to 1,878.51 points.
The Australian ASX/S&P 200 index lost 0.66%, reaching 5,935.30 points, despite of the moderate increases in Rio Tinto and BHP shares.
The losses on Asian exchanges continue the trend from the Wall Street after US President Donald Trump announced yesterday that he removed Secretary of State Rex Tillerson from his post and appointed former CIA Director Mike Pompeo to replace him.