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EQUITIES: Asian Equities Edge Lower Following Trump's Tariff Announcement

EQUITIES
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  • Markets across Asia-Pacific retreated amid renewed concerns over President-elect Donald Trump’s tariff announcements, which include an additional 10% levy on Chinese goods and a 25% tariff on Canadian and Mexican imports. These policies fueled fears of global economic risks, particularly for export-dependent sectors such as electronics, machinery, and automotives, impacting indices like Japan’s Topix -1.3% and Nikkei -1.45%.
  • Defense stocks in Japan and South Korea slumped following reports of progress toward an Israel-Hezbollah ceasefire, mirroring declines in U.S. and EU defense names.
  • China & Hong Kong equities have shown resilience, with major benchmarks trading slightly higher, the HSI & CSI 300 are both 0.10% higher, largely ignoring the tariff headlines.
  • In Australia, the ASX 200 fell 0.45%, pressured by weakness in financials and energy stocks, as investors awaited domestic inflation data for clues on future interest rate changes.
  • The USD strengthened on the back of tariff news, dragging down the Canadian and Australian currencies by around 1%. Traders remain cautious, with increased volatility expectations reflected in higher VIX futures.
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  • Markets across Asia-Pacific retreated amid renewed concerns over President-elect Donald Trump’s tariff announcements, which include an additional 10% levy on Chinese goods and a 25% tariff on Canadian and Mexican imports. These policies fueled fears of global economic risks, particularly for export-dependent sectors such as electronics, machinery, and automotives, impacting indices like Japan’s Topix -1.3% and Nikkei -1.45%.
  • Defense stocks in Japan and South Korea slumped following reports of progress toward an Israel-Hezbollah ceasefire, mirroring declines in U.S. and EU defense names.
  • China & Hong Kong equities have shown resilience, with major benchmarks trading slightly higher, the HSI & CSI 300 are both 0.10% higher, largely ignoring the tariff headlines.
  • In Australia, the ASX 200 fell 0.45%, pressured by weakness in financials and energy stocks, as investors awaited domestic inflation data for clues on future interest rate changes.
  • The USD strengthened on the back of tariff news, dragging down the Canadian and Australian currencies by around 1%. Traders remain cautious, with increased volatility expectations reflected in higher VIX futures.