On Friday morning (28 March, 9:12 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed due to concerns among investors sparked by U.S. President Donald Trump’s tariff warnings.
Traders are keeping an eye on automaker stocks after a decline on Thursday following Trump’s announcement of 25% tariffs on non-U.S.-made cars.
Regarding the tariffs slated to be effective on April 2, Trump has somewhat alleviated worries, indicating that the levies could be reduced and hinted at easing tensions with China for a possible TikTok deal.
Concurrently, uncertainties persisted as he also warned of potentially higher duties on the EU and Canada should they unite for economic retaliation.
Meanwhile, in Japan, the core inflation rate for March in Tokyo, excluding fresh food costs, reached 2.4% year-on-year, surpassing forecasts of a 2.2% increase and exceeding February’s 2.2% figure. The city’s overall CPI remained steady at 2.9%, mirroring the previous month’s rate.
Japan’s NIKKEI slumped by 2.15% to 36,985.67. South Korea’s KOSPI dropped by 1.54% to 2,566.97, while Australia’s ASX 200 rose by 0.31% to 7,994.1.
As for stocks in China, Shanghai’s SSEC declined by 0.26% to 3,365.06. Shenzhen’s SZI slid by 0.06% to 10,662.14, while Hong Kong’s HSI grew by 0.36% to 23,663.15.
Meanwhile, the US stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) contracted by 0.37% to 42,299.7. NASDAQ lost 0.53% to 17,804.03, and S&P 500 decreased by 0.33% to 5,693.31. VIX expanded by 1.96% to 18.69.
As for commodities, oil prices settled higher on Thursday as traders evaluated the impact of dwindling crude supplies and the potential consequences of new U.S. tariffs on the global economy. Brent futures surged 24 cents or 0.3% to $74.03 a barrel, and the West Texas Intermediate (WTI) added 27 cents or 0.38% to $69.92 per barrel.
This morning, Brent futures dipped 3 cents or 0.04% to $74 a barrel, and the WTI shrank 4 cents or 0.06% to $69.88 per barrel.
Meanwhile, gold futures escalated 0.76% to $3,084.4 per Troy ounce.
