Asia-Pacific Markets Follow Wall Street's Lead

On Tuesday, major stock indexes across the Asia-Pacific region experienced a downturn, mirroring the significant losses on Wall Street. This market movement was largely influenced by growing concerns over a potential recession, exacerbated by President Donald Trump's tariff policies.

Japan's Economic Growth

Despite the market's overall decline, Japan reported a 0.6% quarterly GDP growth in the fourth quarter of 2024, showcasing a glimmer of resilience amidst the economic uncertainties.

Market Performance Across Asia

By 3:22 am CET, Australia's S&P/ASX 200 had dropped by 0.81%. Shortly after, South Korea's Kospi Composite decreased by 1.48%. Hong Kong's Hang Seng saw a reduction of 0.36%, while the Shanghai Composite and the Shenzhen Composite in mainland China fell by 0.32% and 0.27%, respectively. Japan's Nikkei 225 was notably down by 1.57% at the same time.

Currency Movements

In currency markets, the dollar weakened by 0.09% against the yen, trading at ¥147.1465 by 3:25 am CET.