Asian Markets React to US Tariff Announcement

Following the announcement by United States President Donald Trump of an additional 10% tariff on Chinese imports set to take effect on March 4, major stock exchanges across the Asia-Pacific region experienced significant downturns. Beijing has vowed to implement "all necessary countermeasures" in response to the US decision.

Market Performance Details

In mainland China, the Shanghai Composite dropped by 1.68%, while the Shenzhen Composite saw a decrease of 2.65%. Hong Kong's Hang Seng and South Korea's Kospi Composite also faced sharp declines, falling by 3.29% and 3.24%, respectively. Meanwhile, Australia's S&P/ASX 200 and Japan's Nikkei 225 were not spared, with losses of 1.16% and 2.92%, respectively. The dollar strengthened against the yen, trading 0.20% higher at 149.98450.