Trump’s entry ban scares investors in Asia

Tokyo Stock Exchange

In front of an electronic stock exchange display board.

(Photo: AP)

Tokyo The markets in Japan and Korea started the day at a loss as they await President Donald Trump’s speech on the coronavirus pandemic. But instead of calming the markets, Trump frightened them with its 30-day entry ban for all travelers from mainland Europe.

Shortly after Trump started his speech, the Nikkei plummeted within half of 19,131 points to below 18,600 points, more than four percent below the previous day’s value. The fact that Trump has spoken little about economic programs has disappointed the markets, the Japanese business newspaper Nikkei judged.

The other markets were also shocked. In Korea, the Kospi index dropped 4.3 percent in the first half hour after Trump’s speech began. The Chinese Shanghai Composite Index lost 1.1 percent during this period, the Hong Kong Hangseng Index and the Singaporean Hangseng Index lost 2.9 percent.

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