ISTANBUL
Asian stock markets closed with losses on Tuesday, except South Korea.
The decline followed US President Donald Trump’s Monday executive order that imposed 25% tariffs on steel and aluminum imports.
The Hong Kong Hang Seng index dropped 1.06%, or 227.12 points, to 21,294.86, while the Shanghai index fell 0.12% — 4.11 points — to 3,318.06.
The Shenzhen Component also declined 0.69%, or 73.62 points, to 10,557.62, and India’s Sensex fell 1.32% to 76,293.60 in a 1,018.20-point drop.
South Korea’s Kospi index bucked the trend, rising 0.71% (17.78 points) to 2,539.05, following the resolution of its political crisis.
Despite the general downturn, Chinese steel producers saw significant gains, with Zhejiang Hangxiao Steel Structure surging 17% and Hangzhou Iron and Steel rising 10%.
