Market Turmoil in Asia

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

Impact on Major Indices

In mainland China, the Shanghai Composite dropped by 1.68%, while the Shenzhen Composite fell by 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%. Meanwhile, Australia's S&P/ASX 200 tumbled 1.16%, and Japan's Nikkei 225 plunged 2.92%.

Currency Movements

Amidst the market turmoil, the dollar strengthened against the yen, trading 0.20% higher at 149.98450 yen.