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US Tariffs Weigh on Asian Stock Markets in Holiday-Thinned Trading
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Last updated: 04/04/2025 06:48:11
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Last updated: 04/04/2025 06:48:11
06:48 AM EDT, 04/04/2025 (MT Newswires) -- Asian stock markets retreated Friday as traders digested global reaction to the Trump administration's latest import duties, in holiday-thinned trading.
Tokyo finished in the red, while stock markets in Hong Kong, mainland China and Taiwan were closed. Other regional exchanges lost ground.
In Japan, the Nikkei 225 opened lower and drifted, finishing off 2.8% as traders weighed US tariffs. The benchmark index fell 955.35 to 33,780.58, as losing issues outnumbered gainers 178 to 47.
Semiconductor-maker Renesas Electronics declined nearly 13%, while home-furnishings retailer Nitori gained 5.3%.
In economic news, Bank of Japan Governor Kazuo Ueda warned that higher US tariffs could exert downward pressure on the Japanese and global economies, the Jiji Press news service reported.
On the other regional exchanges, the S. Korean KOSPI fell 0.9%; the Australian ASX 200 declined 2.4%; the Singapore Straits Times Index slid 3%, and the Thai Set lost 3.2%. In late trading in Mumbai, the Sensex was down 1.5%.
In other news, the seasonally adjusted India services purchasing managers index, or PMI, fell to 58.5 last month from 59 in February, but still well above the 50-marker that separates growth from contraction, reported S&P Global. The ASEAN manufacturing PMI dropped to 50.8 in March from 51.5 the previous month.
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