Asian markets mostly fall on geopolitical fears
A screen showing stock indexes in Shanghai, China, July 12, 2022. /CFP

A screen showing stock indexes in Shanghai, China, July 12, 2022. /CFP

Asian markets mostly fell Tuesday due to geopolitical fears after reports that U.S. House of Representatives Speaker Nancy Pelosi would visit China's Taiwan region went public.

Hong Kong and Shanghai shed more than 2 percent, while Tokyo was off more than 1 percent.

The Shanghai Composite Index fell 2.26 percent to 3,186.27 points, while the Shenzhen Component Index closed 2.37 percent lower at 12,120.02 points.

Chinese stocks related to genetic engineering and corn led the gains, whereas those related to titanium dioxide and education were among the biggest losers.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 2.02 percent to close at 2,678.62 points.

Meanwhile, MSCI's broadest index of Asia-Pacific shares retreated 1.3 percent. Japan's benchmark Nikkei 225 index tumbled 1.4 percent at 27,594.73.

At a press conference on Tuesday, Chinese Foreign Ministry spokesperson Hua Chunying said the U.S. was taking provocative actions that could escalate tensions across the Taiwan Straits, for which it should and must take full responsibility.

"The U.S. would surely bear the responsibility and pay the price for undermining China's sovereignty and security interests," added Hua.

(With input from agencies)

Search Trends