Market Movements Following Tariff Announcement

Following the announcement by United States President Donald Trump imposing a 25% tariff on steel and aluminum imports, Asia-Pacific stock markets showed mixed reactions. Australia's S&P/ASX 200 saw a slight increase of 0.08% by 3:27 am CET. Similarly, South Korea's Kospi Composite rose by 0.60% shortly after. However, not all markets responded positively; Hong Kong's Hang Seng index dropped by 0.34% at 3:29 am CET. The Chinese markets also experienced declines, with the Shanghai Composite and the Shenzhen Composite decreasing by 0.21% and 0.64%, respectively. It's important to note that Japanese markets were closed for a holiday, thus not reflecting any immediate reaction to the news.

Currency Impact

In the currency markets, the dollar remained stable against the yen, trading at ¥151.9390 at 3:30 am CET, indicating a muted immediate response from the currency markets to the tariff announcement.