On Wednesday morning (19 March, 9:43 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed, influenced by Wall Street’s downturn due to a significant drop in technology stocks.
The declines in the U.S. markets came after a consecutive two-day rise, following a challenging period marred by subdued economic data and the unpredictable tariff policies under the Trump administration, causing investor concern over the U.S. financial stability.
Traders are eagerly awaiting the interest rate announcement and the ensuing press conference with Federal Reserve Chair Jerome Powell, with CME’s FedWatch Tool showing a 99% probability that the central bank will maintain its current interest rates.
In Japan, the country reported a trade surplus of 584.5 billion yen ($3.91 billion) in February, a shift from the prior month’s deficit. Exports surged by 11.4% YoY, marking the fifth consecutive month of growth. This exceeded January’s revised 7.3% increase but fell below economists’ expectations of a 12.1% rise based on a Reuters survey.
At the end of a two-day meeting on Wednesday, the Bank of Japan maintained its main policy rate at 0.5%. The decision was in line with market forecasts and reflected the central bank’s scrutiny of the potential effects of U.S. President Donald Trump’s protectionist trade strategies on its export-driven economy.
Japan’s NIKKEI surged by 0.67% to 38,100.63. South Korea’s KOSPI rose by 0.81% to 2,633.48, while Australia’s ASX 200 slid by 0.04% to 7,857.
As for stocks in China, Shanghai’s SSEC dropped by 0.26% to 3,420.87. Hong Kong’s HSI dipped by 0.08% to 24,719.7, and Shenzhen’s SZI fell by 0.52% to 10,957.36.
Meanwhile, the US stock markets edged down on Tuesday as the Dow Jones Industrial Average (DJIA) decreased by 0.62% to 41,581.31. NASDAQ slumped by 1.71% to 17,504.12, and S&P 500 lost 1.07% to 5,614.66. VIX grew by 5.8% to 21.7.
As for commodities, oil prices settled lower on Tuesday following discussions between U.S. President Donald Trump and Russian President Vladimir Putin regarding efforts to resolve the three-year conflict in Ukraine. The potential resolution could lead to a relaxation of sanctions on Russian fuel exports. Brent futures declined 51 cents or 0.72% to $70.56 a barrel, and the West Texas Intermediate (WTI) contracted 68 cents or 1.01% to $66.90 per barrel.
This morning, Brent futures diminished 15 cents or 0.21% to $70.41 a barrel, and the WTI shrank 18 cents or 0.27% to $66.72 per barrel.
Meanwhile, gold futures edged down 0.03% to $3,040 per Troy ounce.
