Asia Down on U.S.-Indonesia Trade Deal

Asia-Pacific markets traded mostly declined after U.S. President Donald Trump said Tuesday that he had reached a preliminary trade agreement with Indonesia, which includes a provision for a 19% tariff on the country’s exports to the U.S.In Japan, the Nikkei 225 dropped 14.62 points to 39,663.40. In Hong Kong, the Hang Seng slid 72.36 points, or 0.3%, to 24,517.76. Indonesia President Prabowo Subianto said he had a “very good call” with U.S. President Donald Trump following the latter’s announcement of a trade deal, which included a 19% tariff on the Asian country’s exports to the U.S.However, Prabowo did not confirm the details of the trade deal or the tariff rate.In other marketsIn Shanghai, the CSI 300 retreated 11.86 points, or 0.3%, to 4,007.20. In Korea, the Kospi index fell 28.9 points, or 0.9%, to 3,186.38.In Singapore, the Straits Times index gained 12.43 points, or 0.3%, to 4,132.25. In Taiwan, the Taiex index popped 206.96 points, or 0.9%, to 23,042.90.In New Zealand, the NZX 50 forged ahead 64.96 points, or 0.5%, to 12,754.59.In Australia, the ASX 200 settled 68.58 points, or 0.8%, to 8,561.77.