Global stock markets showed diverging trends on Monday as Asia-Pacific market performance mirrored the anxious mood from lower U.S. futures, stirred by upcoming economic disclosures and amplified trade worries. President Donald Trump disclosed plans on Sunday to unveil a comprehensive 25% tariff on steel and aluminum imports.
In the Asian markets, Japan’s Nikkei 225 saw early losses by 0.08%, reflecting the cautious atmosphere. South Korea’s Kospi also opened flat with a slight gain of 0.053%. Meanwhile, Australia’s S&P/ASX 200 weakened, sliding 0.33%, whereas Hong Kong’s Hang Seng index bucked the trend with an upbeat start, advancing 1.28% and Shanghai Composite rose 0.34%.
Last Friday, the Dow Jones Industrial Average dropped 444.23 points or 0.99% to settle at 44,303.40. Meanwhile, the S&P 500 fell 0.95% to 6,025.99, and the tech-heavy Nasdaq Composite plunged 1.36% to close at 19,523.40.
In the energy sector, oil prices recorded daily gains on Friday as new sanctions targeted Iranian crude, yet they faced a weekly drop amid fears over Trump’s renewed trade disputes targeting China and potential tariffs on additional countries.
Brent crude closed at $74.66 a barrel, an increase of 0.5%, though forecasted to drop over 2% for the week. Similarly, U.S. West Texas Intermediate ended at $71.00 a barrel, up 0.55%.
On Monday, Brent crude rose 0.80% to $75.26 per barrel, while WTI gained 0.80% to $71.57 a barrel.
Gold advanced on Friday, maintaining upward momentum for the sixth week. The precious metal drew investor interest as a safe haven amid escalating U.S.-China trade tensions, climbing 0.2% to reach $2,862.56 per ounce.
