Asian stocks tumble as U.S. tariffs fuel slowdown fears [MSNBC.com]
HSBC Holdings, plc. (HSBC)
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Source: MSNBC.com
Asian share markets tumbled on Monday, driven by concerns that thebroad and steep U.S. tariffstrade-reliant emerging economiesMSCI’s broadest index of Asia-Pacific shares outside Japan shed nearly 2%, while a gauge of Asian emerging market equities also plunged 2% to its weakest point since early March.MostSoutheast AsiaIndonesiaMalaysiaSingaporeSouth KoreaU.S. auto tariffsTaiwan“For Asia, whose dashing economic success of recent decades was largely built on exports, this (tariffs) pose severe challenges,” analysts at HSBC wrote.Thailand’s benchmark hit a near five-year low, dragged down by Delta Electronics Thailand, which plunged as much as 5% on the day.The electronics component maker has lost more than half of its value since scaling an all-time high last November, owing to concerns around core earnings and stretched valuations.Most equities in Southeast Asia were headed for significant quarterly losses. Stocks in Indonesia and Malaysia shed around 8%, while those in Thailand plum
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