TOKYO - Asian equities tracked Wall Street’s slide on Wednesday as the latest developments in the U.S.-China trade conflict fanned fresh fears about global growth, driving support for safe-haven government bonds.
Australian stocks declined 0.35 percent, South Korea’s KOSPI fell 1 percent and Japan’s Nikkei was down 1.5 percent. Beijing said on Tuesday that Chinese Vice Premier Liu He will visit the United States on Thursday and Friday for trade talks. Additional tariffs are set to take effect on Friday if a trade agreement is not reached by then.
Government bond prices surged and their yields slid sharply as investor panic took a toll on growth asset markets.In currency markets, the dollar struggled at 110.25 yen after slipping to a six-week low of 110.17 overnight.