MNI: US Feb Inflation Expectations Uncertainty Rises - NY Fed

MNI BRIEF: Brussels Focused On 4-Year Defence Exemption

MNI INTERVIEW: Hainan Green FTZ to Attract EU Investors - NPC

MNI China Daily Summary: Monday, March 10

MNI BRIEF: Japan Feb Sentiment Drops, Govt Cuts View

MNI: China CFETS Yuan Index Down 0.85% In Week of Mar 7

EZ/UK T-Bill Calendar: Spain, Belgium, Finland Due Tuesday

EZ/UK Bond Supply Calendar: UK, EU Syndications Upcoming

MNI: GERMANY JAN INDUSTRIAL PRODUCTION 2.0% M/M

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ASIA STOCKS: Equities Plunge, Tracking Wall Street's Losses As Tariffs Near

ASIA STOCKS
EM BulletFixed Income BulletsBulletAPACEmerging Market NewsForeign Exchange BulletsMarkets
Asian equity markets experienced a widespread downturn, driven by U.S. President Donald Trump’s latest tariff threats and disappointing Nvidia Corp. earnings, snapping the region’s longest weekly winning streak in nearly a year. The MSCI Asia Pacific Index fell 2%, marking its worst day since February 3, as investor sentiment soured amid fears of escalating trade wars and economic slowdowns. Tech-heavy sectors, particularly semiconductors, and export-sensitive industries bore the brunt, exacerbated by a global shift from stocks to bonds. Southeast Asian markets like Thailand and Indonesia entered technical bear territory, while Japan saw its steepest monthly drop since 2022.
 
  • Japanese stocks plummeted, with the Topix Index down 2.1% and the Nikkei falling 3.3%, heading for their largest monthly decline since December 2022. A sharp sell-off in chip-related firms like Disco (-12%) and Advantest  (-10%) followed Nvidia’s 8.5% plunge, while Trump’s tariff plans—25% on Canada and Mexico, plus 10% more on China—amplified fears of global economic fallout, hitting export-driven sectors hard.
  • Chinese equities slid as Trump announced an additional 10% tariff on imports, compounding an existing 10% duty. Hong Kong-listed Chinese shares fell 2.5%, and the CSI 300 Index is trading 0.80% lower, threatening a recent AI-driven rally sparked by DeepSeek’s innovations. Despite a stable yuan bolstered by the central bank, investor focus is shifting to next week’s parliamentary session for potential stimulus measures. Hong Kong listed equities are performing worse than their mainland peers, with the HSI down 2.30%, HSTech Index 3.80% lower, HS Property Index 2.50% lower.
  • South Korea's KOSPI is 2.90% lower, with Samsung down -2.30%, while SK Hynix has dropped 4.50%. While Taiwan's TAIEX has dropped 1.50%
  • The ASX200 index is trading 1.20% lower, and has hit its lowest level in eight weeks. The decline mirrored a Wall Street sell-off, with the every ASX sector was in the red, notably technology, consumer staples, and mining, with major firms like BHP and Fortescue losing over 3%. Star Entertainment Group plummeted 19.2% amid insolvency fears.
  • Indonesia's JCI fell as much as 2.9%, entering a technical bear market with a 20% drop from its September high. Currency weakness in the rupiah, Asia’s worst performer this year, alongside Trump’s tariff threats, drove $934m in foreign outflows this month, raising inflation fears and pressuring corporate earnings, particularly in banking.
  • Thailand's SET Index dropped as much as 2.4%, pushing it into a technical bear market with a decline exceeding 20% from its October peak. Heavy selling in stocks like Delta Electronics Thailand Pcl and Airports of Thailand Pcl reflected mounting concerns over Thailand’s sluggish economic growth and vulnerability to U.S. tariffs, with foreign investors offloading $381m in shares this year amid a broader $10b exodus over two years.
  • India's Nifty 50 Index declined 1.35% extending losses from its September peak by over 15% and nearing a fifth consecutive monthly drop, the longest since 1996. Small and mid-cap gauges fell over 2%, with Infosys leading the Nifty’s decline at 3%, as Trump’s tariff announcements compounded regional market pressures.
487 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Asian equity markets experienced a widespread downturn, driven by U.S. President Donald Trump’s latest tariff threats and disappointing Nvidia Corp. earnings, snapping the region’s longest weekly winning streak in nearly a year. The MSCI Asia Pacific Index fell 2%, marking its worst day since February 3, as investor sentiment soured amid fears of escalating trade wars and economic slowdowns. Tech-heavy sectors, particularly semiconductors, and export-sensitive industries bore the brunt, exacerbated by a global shift from stocks to bonds. Southeast Asian markets like Thailand and Indonesia entered technical bear territory, while Japan saw its steepest monthly drop since 2022.
 
  • Japanese stocks plummeted, with the Topix Index down 2.1% and the Nikkei falling 3.3%, heading for their largest monthly decline since December 2022. A sharp sell-off in chip-related firms like Disco (-12%) and Advantest  (-10%) followed Nvidia’s 8.5% plunge, while Trump’s tariff plans—25% on Canada and Mexico, plus 10% more on China—amplified fears of global economic fallout, hitting export-driven sectors hard.
  • Chinese equities slid as Trump announced an additional 10% tariff on imports, compounding an existing 10% duty. Hong Kong-listed Chinese shares fell 2.5%, and the CSI 300 Index is trading 0.80% lower, threatening a recent AI-driven rally sparked by DeepSeek’s innovations. Despite a stable yuan bolstered by the central bank, investor focus is shifting to next week’s parliamentary session for potential stimulus measures. Hong Kong listed equities are performing worse than their mainland peers, with the HSI down 2.30%, HSTech Index 3.80% lower, HS Property Index 2.50% lower.
  • South Korea's KOSPI is 2.90% lower, with Samsung down -2.30%, while SK Hynix has dropped 4.50%. While Taiwan's TAIEX has dropped 1.50%
  • The ASX200 index is trading 1.20% lower, and has hit its lowest level in eight weeks. The decline mirrored a Wall Street sell-off, with the every ASX sector was in the red, notably technology, consumer staples, and mining, with major firms like BHP and Fortescue losing over 3%. Star Entertainment Group plummeted 19.2% amid insolvency fears.
  • Indonesia's JCI fell as much as 2.9%, entering a technical bear market with a 20% drop from its September high. Currency weakness in the rupiah, Asia’s worst performer this year, alongside Trump’s tariff threats, drove $934m in foreign outflows this month, raising inflation fears and pressuring corporate earnings, particularly in banking.
  • Thailand's SET Index dropped as much as 2.4%, pushing it into a technical bear market with a decline exceeding 20% from its October peak. Heavy selling in stocks like Delta Electronics Thailand Pcl and Airports of Thailand Pcl reflected mounting concerns over Thailand’s sluggish economic growth and vulnerability to U.S. tariffs, with foreign investors offloading $381m in shares this year amid a broader $10b exodus over two years.
  • India's Nifty 50 Index declined 1.35% extending losses from its September peak by over 15% and nearing a fifth consecutive monthly drop, the longest since 1996. Small and mid-cap gauges fell over 2%, with Infosys leading the Nifty’s decline at 3%, as Trump’s tariff announcements compounded regional market pressures.