March 04, 2025 02:23 GMT
ASIA STOCKS: Asian Equities Lower On Trump's Tariffs
ASIA STOCKS
Asian markets are trading lower, reflecting a global selloff triggered by heightened trade war fears following Trump’s latest tariff actions. The downturn follows Trump’s order raising tariffs on Chinese goods to 20% and his confirmation that 25% tariffs on Mexico and Canada will proceed, prompting a risk-off shift among investors
- Japan’s Nikkei 225 dropped 2.35% and the Topix fell 1.5%, with tech firms like Advantest and Disco, alongside carmakers such as Honda, Toyota, and Suzuki, dragging indices down amid a stronger yen and tariff concerns.
- South Korean equities have returned from a public holiday yesterday and trade little changed, while Taiwan's TAIEX is -1.30%
- Hong Kong’s Hang Seng declined 1.7%, pressured by slumping Chinese tech stocks as investor confidence wanes, despite a 2.5% rise in UBTech Robotics after Shenzhen’s robotics sector support announcement.
- In Mainland China, the CSI 300 is trading 0.50% lower. Chinese robotics-related stocks, like Shengtong Printing (+4.4%), Zhejiang Changsheng (+3.7%), and Shuanghuan Drive (+3.1%), bucked the trend, buoyed by local government backing. The National People’s Congress starts tomorrow Wednesday, investors are pinning hopes on a significant stimulus package to counter US tariffs and restore faith in Chinese equities, though a lack of specific retaliation plans from Beijing has heightened uncertainty.
- Australia’s ASX 200 is trading 0.90% lower as markets brace for further volatility amid rising geopolitical tensions and disappointing US economic data.
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