Asian Markets React to US Tariff Announcement

Following the announcement by United States President Donald Trump of an additional 10% tariff on Chinese imports effective March 4, major stock exchanges across the Asia-Pacific region experienced significant declines. Beijing has vowed to take all necessary countermeasures in response to these new tariffs.

Market Impact Across the Region

In mainland China, the Shanghai Composite dropped by 1.68%, while the Shenzhen Composite saw a decrease of 2.65%. Similarly, Hong Kong's Hang Seng index fell by 3.29%, and South Korea's Kospi Composite slid by 3.24%. The downturn was also felt in Australia and Japan, with the S&P/ASX 200 and Nikkei 225 indices declining by 1.16% and 2.92%, respectively.

Currency Movements

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