Asia-Pacific markets were subdued Tuesday, tracking Wall Street’s selloff after U.S. President Donald Trump doubled down on his pressure campaign on Federal Reserve Chairman Jerome Powell.
In Japan, the Nikkei 225 let go of 59.32 points, or 0.2%, to 34,220.60.
In Hong Kong, the Hang Seng Index returned from a long weekend to gain 167.18 points, or 0.8%, to 21,562.32.
Overnight in the U.S., the three major averages fell following Trump’s attacks on Powell, raising questions about the central bank’s independence, while traders received few signs of progress on global trade talks.
Powell noted last week that the Fed’s independence is a “matter of law.” Markets are trying to weigh how serious the termination threat is, versus jawboning for lower rates, ANZ economists wrote.
In other markets
The CSI 300 in mainland China dipped 0.93 points to 3,783.95.
In Singapore, the Straits Times Index moved forward 36.19 points, or 1%, to 3,795.41
In Korea, the Kospi docked 1.78 points, or 0.1%, to 2,486.64
In Taiwan, the Taiex weakened 312.77 points, or 1.6%, to 18,793.43.
In New Zealand, the NZX 50 tumbled 282.30 points, or 2.3%, to 11,836.70.
In Australia, the ASX 200 ditched 2.43 points to 7.816.70.