Stocks in the Asia-Pacific region finished in the red, following overnight losses in Wall Street after House Speaker Pelosi announced that the House of Representatives will open a formal an impeachment inquiry into President Trump. On Tuesday, President Trump replied saying he would release the “complete, fully declassified and unredacted” of a phone call with Ukrainian President Zelensky, after reports earlier this year that Trump pressured Zelensky to investigate Democratic presidential candidate Biden.
Also, renewed trade worries after President Trump said he will not accept a “bad deal” with China weighed on sentiment. Chinese Foreign Minister Wang Yi responded saying the two economic powerhouses should cooperate for mutual gain as well the rest of the world. The Shanghai Composite decreased 26 points, or 0.9% to 2959; the Nikkei 225 fell 79 points, or 0.4% to 22020; the Kospi dropped 28 points, or 1.3% to 2073; and Australia’s S&P/ASX 200 lost 39 points, or 0.6%, to 6710.
