Asian Markets React to Impending US Tariffs

As the week commenced, Asian stock markets experienced a downturn, with investors growing increasingly concerned over the impending tariffs from the United States, set to be implemented by President Donald Trump on April 2.

Economic Data Offers Little Solace

Despite positive economic indicators from China and Japan, market sentiment remained subdued. China's manufacturing PMI for March showed a slight improvement, and Japan reported resilience in industrial production and retail sales. However, these figures did little to alleviate the overarching concerns among investors.

Market Performance Across Asia

Japan's Nikkei 225 saw a significant drop of 3.85%, while South Korea's Kospi Composite fell by 2.59%. Australia's S&P/ASX 200 wasn't spared, dropping 1.59%. In China, the Shanghai Composite and Shenzhen Composite declined by 0.37% and 0.90%, respectively. Hong Kong's Hang Seng also experienced a downturn, and the US dollar weakened against the yen.