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As new tariffs came into effect between the two countries, markets of Hong Kong and Australia reacted negatively on the board today. As of now, China has called off trade talks with the States.

ASX 200 lowered by 0.12 percent and closed at 6,186.9 recovering its previous losses whereas the financial sector went down in 0.11 percent. The stocks of AMD and Commonwealth Bank of Australia were lowered by 1.24 percent and 0.51 percent respectively.

The shares of Lynas traded down by 18.33 percent while slightly recovered from its earlier losses. The index of Hang Seng of Hong Kong was down by 1.69 percent and of the Country Garden by 6.27 percent.

The Trump administration had proclaimed 10 percent tariffs on Chinese imports worth of $200 billion whereas the Chinese administration had announced tariffs on $60 billion on the US imports.

The Japanese yen was at $112.53 and Australian dollar reduced to $0.7266. The Chinese yuan also lowered against the US dollar with 6.8635 whereas the Won of South Korea traded down at 1,118.42 against the greenback.

The dollar index against a basket of major currencies was lowered at 94.289 but still stronger than its earlier Asian trade.

Dow Jones Industrial Average and S&P 500 of the United States were at their highest this Friday with Dow Jones up by 86.52 points at 26,743.50 while S&P 500 at 2,929.67. On the other hand, Nasdaq Composite traded down at 7,986.96 shedding 0.51 percent.

After the trade war between the two largest economies, new tariffs are going to implement from 12.01 p.m. today. The journal of Wall Street reported that China has called off trade talks with the States as earlier planned between the countries. It came into effect after the U.S. implemented tariffs on Chinese goods.