Sub-shares fell to a six-and-a-half-month low

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      Asian stock markets fell to a six-and-a-half-month low Monday, with the renminbi plummeting and the Sino-US trade war escalating sharply, prompting investors to flock to safe havens such as the yen, bonds and gold.
Financial markets were shocked by the sudden decision of US President Trump on Thursday to impose a 10% tariff on $300 billion of Chinese imports, ending a month-long trade truce. China vowed on Friday to take counter-action.
Affected by this, the Chinese People's Currency has fallen below the key seven barriers against the US dollar, which may lead to a large outflow of capital.
"We may see a longer period of hedging," analysts at TD Securities in Singapore wrote in a report.
"We believe that the latest trend reiterates our view that trade will continue to be a lingering disadvantage for the economy, especially for corporate investment."
Asian shares fell across the board, with all markets falling sharply.
Nikkei. N225 fell nearly 2% to its lowest level since early June, while Australian stocks fell about 1% for the fourth consecutive day. Korean Composite Stock Index (KOSPI). KS11 fell 1.2%, the lowest since December 2016.
This led to the MSCI Mingsheng Asia-Pacific (excluding Japan) index falling 1.7% to 495.68 points, the lowest level since late January and the longest consecutive decline since October 2018.


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