Markets React to New US Tariffs

Following the implementation of new United States tariffs, major stock markets across the Asia-Pacific region experienced significant declines during Wednesday's afternoon trading session. The move, which includes a staggering 104% tariff on Chinese goods, comes after US President Donald Trump's warning to impose additional 50% tariffs unless Beijing removes its 34% duties on US products.

Regional Market Performance

South Korea's Kospi led the downturn with a 1.68% drop, closely followed by Hong Kong's Hang Seng and Japan's Nikkei 225, which fell by 1.55% and 4.22% respectively. Australia's S&P/ASX 200 wasn't spared, declining by 1.86%. In contrast, mainland China's markets showed resilience, with the Shanghai Composite trading flat and the Shenzhen Composite rising by 0.44%.

Currency Impact

The dollar also felt the pressure, losing 0.75% against the yen, trading at 145.18600. This development underscores the broader economic implications of the escalating trade tensions between the world's two largest economies.