On Friday morning (11 April, 9:20 AM, GMT+7, Bangkok time), indices in Asia Pacific exhibited a downward trend following an overnight sell-off in Wall Street, driven by heightened trade war tensions between the U.S. and China, which dampened investor sentiment.
The White House announced on Thursday that the cumulative tariff rate on Chinese imports has risen to 145%, according to CNBC. This includes a newly imposed 125% duty alongside an existing 20% tariff connected to the ongoing fentanyl crisis.
Following the delayed imposition of steep tariffs for U.S. trading partners, President Donald Trump indicated the possibility of prolonging the pause beyond the initial 90 days, stating that the situation will be reevaluated closer to the time. The suspension of certain import duties, which was declared on Wednesday, is set to expire in July.
Japan’s NIKKEI plummeted by 4.63% to 33,007.36. South Korea’s KOSPI slumped by 1.47% to 2,409.05, and Australia’s ASX 200 lost 1.45% to 7,597.5.
As for stocks in China, Shanghai’s SSEC dipped by 0.13% to 3,219.32. Hong Kong’s HSI fell by 0.79% to 20,517.65, and Shenzhen’s SZI slid by 0.28% to 9,727.26.
Meanwhile, the US stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) decreased by 2.5% to 39,593.66. NASDAQ contracted by 4.31% to 16,387.31, and S&P 500 declined by 3.46% to 5,268.05. VIX jumped by 21.12% to 40.72.
As for commodities, oil prices settled lower on Thursday as investors reconsidered a proposed pause in extensive U.S. tariffs, while attention turned back to the escalating trade conflict between the U.S. and China. Brent futures dropped $2.15 or 3.3% to $63.33 a barrel, and the West Texas Intermediate (WTI) slumped $2.28 or 3.7% to $60.07 per barrel.
This morning, Brent futures diminished 51 cents or 0.81% to $62.82 a barrel, and the WTI shrank 58 cents or 0.97% to $59.49 per barrel.
Meanwhile, gold futures gained 1.73% to $3,232.6 per Troy ounce.
