On Wednesday morning (26 March, 10:08 AM, GMT+7, Bangkok time), indices in Asia Pacific exhibited an upward trend, following the gains on Wall Street, as optimism grew regarding potential softer-than-expected tariffs proposed by U.S. President Donald Trump.
As per CNBC citing reports from The Wall Street Journal and Bloomberg, the upcoming tariffs from the White House, scheduled for April 2, are anticipated to have limited application. President Trump on Friday hinted at being open to adjustments in his reciprocal tariff strategies for other nations.
Meanwhile, consumer confidence in the U.S. is showing signs of decline, with concerns about inflation, financial instability, and job market risks on the rise. Morning Consult highlighted these growing worries, forecasting a reduction in spending by consumers across various income levels as President Trump gears up for heightened trade tensions in the coming week.
In Australia, the country’s inflation rate in February moderated to 2.4%, a slight decrease from January’s 2.5% and falling short of economists’ projections surveyed by Reuters. The national statistics bureau identified key drivers of this annual fluctuation as food and non-alcoholic beverages, alcohol and tobacco, along with housing.
Japan’s NIKKEI rose by 0.29% to 37,890.15. South Korea’s KOSPI grew by 0.55% to 2,630.19, and Australia’s ASX 200 added 0.84% to 8,009.5.
As for stocks in China, Shanghai’s SSEC climbed by 0.13% to 3,374.33. Hong Kong’s HSI gained 0.39% to 23,434.95, and Shenzhen’s SZI surged by 0.33% to 10,683.92.
Meanwhile, the US stock markets edged up on Tuesday as the Dow Jones Industrial Average (DJIA) increased by 0.01% to 42,587.5. NASDAQ escalated by 0.46% to 18,271.86, and S&P 500 expanded by 0.16% to 5,776.65. VIX declined by 1.89% to 17.15.
As for commodities, oil prices remained relatively stable on Tuesday following Ukraine’s agreement on a ceasefire with Russia, specifically encompassing the Black Sea and energy facilities. However, the oil market was bolstered by the anticipation of constrained global supply, attributed to the potential imposition of U.S. tariffs on nations engaged in purchasing Venezuelan oil. Brent futures increased 2 cents or 0.03% to $73.02 a barrel, while the West Texas Intermediate (WTI) dropped 11 cents or 0.16% to $69 per barrel.
This morning, Brent futures surged 32 cents or 0.44% to $73.34 a barrel, and the WTI gained 31 cents or 0.45% to $69.31 per barrel.
Meanwhile, gold futures climbed 0.07% to $3,028.1 per Troy ounce.
