Asian stock markets continued to decline on Friday, marking the second consecutive day of losses following U.S. President Donald Trump’s announcement of harsh tariffs, primarily targeting Asia.
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Key Tariff Rates:
- China: 54%
- Vietnam: 46%
- Japan: 24%
- South Korea: 25%
- Taiwan: 32%
The Tokyo Stock Exchange dropped over 2% for the second day, with significant declines in major automobile manufacturers. These were also impacted by a sector-specific tariff that went into effect on Thursday. Toyota, Nissan, and Honda fell between 4% and 5%.
Stock markets in Sydney, Singapore, Seoul, and Manila also reported losses. In China, markets in Hong Kong or Shanghai were closed due to it being a public holiday.
