Asian stock markets showed mixed performance on Tuesday, a day after suffering historic drops due to President Donald Trump’s imposition of tariffs.
The fluctuation in Asian markets occurred amid the threat of a trade war between the world’s two largest economies. This followed China’s retaliation against the U.S. and Trump’s warning of additional 50% tariffs on the Asian giant.
Key Market Movements
- Tokyo’s Nikkei Index: Rose by more than 6%
- Hong Kong Stock Exchange: Increased by over 2%, insufficient to offset its 13% drop on Monday.
- Shanghai, Sydney, Seoul, Wellington, and Manila: Registered gains.
- Taipei Stock Exchange: Dropped more than 4%, following a decline of over 9% the previous day. Singapore also experienced additional losses.
- Jakarta Stock Exchange: Suspended operations after opening with a drop exceeding 9%. Vietnam, one of the countries most affected by Trump’s tariffs, fell by 5% on Tuesday.
- Bangkok Stock Exchange: Declined more than 4% at its Tuesday opening.
Trump’s announcement last week of tariffs against nearly all countries sparked global economic unease, leading to widespread market collapses and oil price drops worldwide. Despite these concerns, Trump reiterated his stance on the tariffs, indicating no intention to pause their implementation.
