Market Downturn Continues Across Asia

Asian stock markets remained in negative territory on Monday afternoon, with losses deepening as investors grew increasingly wary of impending United States tariffs. This cautious sentiment overshadowed positive economic indicators from China and Japan, highlighting the pervasive unease in the region.

Positive Data Overshadowed by Tariff Fears

Despite China's official manufacturing PMI for March rising to 50.5 and Japan showing resilience in industrial output and retail sales, the specter of US tariffs cast a long shadow over Asian markets, driving significant declines across major indices.

Regional Indices Show Significant Losses

Japan's Nikkei 225 led the downturn with a 3.87% plunge, followed by South Korea's Kospi Composite and Hong Kong's Hang Seng index, which sank 2.85% and 1.45%, respectively. Meanwhile, the Shanghai and Shenzhen Composites recorded more modest losses, and Australia's S&P/ASX 200 closed 1.54% lower.

Currency Movements Reflect Market Sentiment

The US dollar's 0.43% slip against the yen to ¥149.1820 further underscored the day's risk-off mood, as traders sought safer havens amid the unfolding market drama.