Asia-Pacific Markets React to Trump's Tariff Announcement

Major stock exchanges across the Asia-Pacific region witnessed significant declines following the latest tariff announcement by United States President Donald Trump. The move has sparked widespread concern over a potential global trade war, with China vowing to respond resolutely.

Market Performance Highlights

In mainland China, the Shanghai Composite dropped by 0.51%, while the Shenzhen Composite saw a sharper decline of 1.54%. Hong Kong's Hang Seng Index fell by 1.88%, and South Korea's Kospi Composite decreased by 0.85%. Australia's S&P/ASX 200 and Japan's Nikkei 225 also experienced downturns, shedding 0.94% and nosediving 3.07%, respectively.

Meanwhile, the dollar traded 1.18% below the yen, highlighting the financial market's volatile response to the unfolding trade tensions.