Stock Markets React to New Tariffs

Following the announcement by United States President Donald Trump of an additional 10% tariff on Chinese imports, major stock exchanges in the Asia-Pacific region experienced significant drops. The new tariffs are set to take effect on March 4, prompting a strong response from Beijing, which vowed to take "all necessary countermeasures."

Market Performance Across Asia

In mainland China, the Shanghai Composite fell by 1.68%, while the Shenzhen Composite dropped 2.65%. Hong Kong's Hang Seng index saw a sharp decline of 3.29%, and South Korea's Kospi Composite slid by 3.24%. By the close of trading, Australia's S&P/ASX 200 had tumbled 1.16%, and Japan's Nikkei 225 plunged 2.92%. The dollar also saw a slight increase against the yen, trading 0.20% higher at 149.98450.