Asian Markets React Sharply to US Tariff Announcement

Following President Donald Trump's announcement of an additional 10% tariff on Chinese imports, major stock exchanges across the Asia-Pacific region experienced significant downturns. 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.

Market Performance Across the Region

In mainland China, the Shanghai Composite Index dropped by 1.68%, while the Shenzhen Composite saw a sharper decline of 2.65%. Hong Kong's Hang Seng Index was not spared, plummeting by 3.29%. Similarly, South Korea's Kospi Composite Index slid by 3.24%.

Australia's S&P/ASX 200 and Japan's Nikkei 225 also felt the impact, with the former tumbling by 1.16% and the latter plunging by 2.92%. Meanwhile, the dollar saw a slight increase of 0.20% against the yen, trading at 149.98450.