Asian stocks drop amid holiday-thinned markets

The stocks on the Asian bourses were a sea of red, as sentiment soured after the Asian traders reacted negatively to Trump’s immigration curbs instituted on Friday.

The aviation and leisure stocks were the worst hit alongside financial sector stocks, as fears rose that his protectionism policies may have an adverse effect for the rest of the world.

Moreover, worse-than expected US Q4 GDP figures also added to the concerns over the US economy and dampened investors’ sentiment. Further, disappointing retail sales data from Japan added to the downbeat tone around the Japanese stocks.

Meanwhile, the Japanese benchmark, the Nikkei 225 index drops -0.65% to 19,340. The Australian benchmark, ASX 200 index drops -0.90% to 5,664 points. Markets in China, Hong Kong, Taiwan, South Korea, Singapore and Malaysia are closed on Monday for the long Lunar New Year holidays.