Asia-Pacific Markets React to New US Tariffs

On Tuesday, major stock markets in the Asia-Pacific region experienced a mostly downward trend in the afternoon. This movement was primarily influenced by investors' reactions to the newly imposed 25% tariff on all steel and aluminum imports by United States President Donald Trump, set to take effect on March 12. Additionally, China's retaliatory tariffs also came into effect yesterday, further impacting market sentiments.

Market Movements Across the Region

South Korea's Kospi saw a rise of 0.69% at 7:15 am CET, contrasting with Hong Kong's Hang Seng, which dropped by 0.25% at the same time. Australia's S&P/ASX 200 remained flat at the close, and Japan's Nikkei 225 was closed due to a national holiday. In mainland China, the Shenzhen Composite declined by 0.39% at 7:16 am CET, while the Shanghai Composite slipped by 0.11% a minute later.

Currency Movements

The dollar remained stable against the yen at 7:17 am CET, selling for ¥151.9340.