9 hours Ago
Asian stock markets bounced back from earlier losses following the steep declines seen in the three main US indexes, which were influenced by President Donald Trump’s tariff proposals. In another development indicating an escalation in the trade conflict, Trump threatened to impose 200% tariffs on all alcoholic beverages imported from the European Union in response to the bloc’s 50% tariff on whiskey. Trump stated that he would remain firm on the larger set of tariffs scheduled to take effect on April 2.
The US equity-index futures rose on Friday as indications emerged that the US would steer clear of a government shutdown, boosting market sentiment. Japanese shares made up for initial losses, while Australian stocks also saw an upward trend. Futures for US equities increased early Friday, as a temporary funding bill appeared poised for passage to prevent a government shutdown, according to reports.
Australia's S&P/ASX 200 increased by 0.35%, bouncing back from declines in the prior session. Meanwhile, in Japan, the Nikkei 225 gained 0.
18%, and the broader Topix index saw an increase of 0.29%. In South Korea, the Kospi index fell by 0.
21% amid volatile trading, whereas the small-cap Kosdaq surged by 1.72%. Hong Kong's Hang Seng Index opened the day with a 1.
1% rise, while Mainland China's CSI 300 turned around from earlier losses to climb 0.97%. Asian markets felt pressure at the start on Friday after US stocks dropped beyond a significant threshold, impacted by US President Donald Trump’s trade conflict.
On Friday, treasuries remained stable following a rally in the previous session driven by a rush towards safe-haven assets, which propelled gold to an all-time high and bolstered the dollar index. Hong Kong equity futures increased by over 1% as an index of US-listed Chinese shares mostly avoided the losses seen in Thursday's equity market, ending just 0.2% down.
On Thursday, the S&P 500 declined by 1.4%. The Nasdaq 100 decreased by 1.
9%. The Dow Jones Industrial Average fell by 1.3%.
A measure of major tech companies fell by 2.5%. Adobe Inc.
plunged due to a lackluster forecast, while Intel Corp. rose after appointing an experienced executive as its next leader. (more to come).
