Asian markets settle down on Tuesday

Asian markets settled down on Tuesday with Chinese and Hong Kong shares declining after the US-China trade tensions once again escalated after the world’s two largest economies imposed port fees on each other’s shipping firms, pushing up costs on both sides. Meanwhile, markets were focusing on earnings from Wall Street’s biggest banks and Federal Reserve Chair Jerome Powell’s keynote speech on the US economic outlook and monetary policy. Japanese shares led regional losses after the coalition government collapsed, threatening Sanae Takaichi’s ascent to prime minister.