Asian Markets fall as Global Sentiment Worsens

Asian traders were cautious as the region’s equity markets fell during the Asian trade session on Tuesday. Traders are trying to digest regional turmoil in Hong Kong and the crash of the Argentinian currency after election results on Monday.

Asian Traders are also worried about slowing economic growth and ongoing global trade tensions. These factors sent traders into safe haven asset classes and out of equities.

In Japan, the benchmark Nikkei 225 was trading down over 1.2 percent by the afternoon. In Tokyo, the broader Topix index tumbled over 1.1 percent.

In South Korea, the Kospi composite index lost 0.7 percent. Elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was down 0.4 percent.

In China, the benchmark Shanghai composite was down about three quarters of a percent and the smaller Shenzhen composite fell 0.92 percent. The Shenzhen component lost over one percent.

In Hong Kong, shares were down over 1.85 percent. The airport reopened today after protests crippled operations on Monday. These protests are growing increasingly violent and shaking up the region.

Asian and Pacific Rim Traders Digest Global Political Turbulence

The surprise election results in Argentina shocked the financial markets. Argentina President Mauricio Macri lost to the opposition in the country’s presidential primaries.

After the election the Argentinian peso closed at $52.15. This was a loss of nearly 15 percent against the dollar and was trading at an all-time low of $61.99.

Traders are worried that Argentina could return to interventionist policies. This could lead to a possible default with the nation’s outstanding debt.