Asian Markets Experience Downturn Following Trump's Tariff Implementation

On Monday afternoon, major stock indexes across the Asia-Pacific region witnessed significant declines. This downturn was largely attributed to President Donald Trump's recent imposition of a 25% tariff on goods from Mexico and Canada, alongside a 10% tariff on Chinese imports. Investors are closely monitoring the situation, evaluating the potential long-term impacts on global trade and economic stability.

Economic Data Reviews from Key Asian Economies

In addition to the tariff news, investors are also digesting recent economic data reports from Australia, Japan, and China. These reports provide crucial insights into the current economic health of these nations, influencing market sentiments and investment decisions in the region.

Market Performance Highlights

Australia's S&P/ASX 200 closed with a 1.79% decrease, while South Korea's Kospi Composite was down by 2.48%. Hong Kong's Hang Seng and Japan's Nikkei 225 also saw declines, with the latter dropping by 2.68%. Meanwhile, Chinese markets remained closed in observance of the Lunar New Year holiday.

The dollar strengthened against the yen, trading 0.27% higher at ¥155.49550.