Asia-Pacific Markets React to US Economic Uncertainty

In a significant market movement, major stock indices across the Asia-Pacific region experienced a downturn on Tuesday. This decline came in the wake of Wall Street's sharp losses, with the Dow Jones plummeting over 1,000 points. The primary concern among investors is the potential for uncertain tariff policies to push the US economy into a recession.

Japan's Economic Growth in Focus

Amidst the market turmoil, traders turned their attention to Japan's latest GDP data. The figures revealed a 0.6% quarterly expansion in the fourth quarter of 2024, with the annualized growth rate slightly adjusted from 0.7% to 0.6%.

Regional Market Performances

The ripple effects of the US market's instability were felt across the region. Japan's Nikkei 225 saw a decrease of 0.73%, while South Korea's Kospi dropped by 1.18%. Hong Kong's Hang Seng wasn't spared, losing 0.88%. In mainland China, the Shanghai Composite and the Shenzhen Composite traded lower by 0.23% and 0.29%, respectively. Australia's S&P/ASX 200 also closed down by 0.91%.

Currency Movements

Meanwhile, the dollar remained stable against the yen, trading at 147.3425 at 7:09 am CET.