Asia Declines as Tariffs Reinstated
Asia-Pacific markets mostly fell Friday, with a slowing U.S. economy, inflation fears and uncertainties from the judicial developments surrounding U.S. President Donald Trump’s “reciprocal” tariffs weighing on investor sentiment.
In Japan, the Nikkei 225 tumbled 467.88 points, or 1.2%, to 37,965.10.
In Hong Kong, the Hang Seng dumped 283.61 points, or 1.2%, to 23,289.72.
The U.S. Court of International Trade ruled on Wednesday night that Trump had overstepped his authority when he imposed his “reciprocal” tariffs. The court ordered that the challenged tariff orders be vacated.
However, the Trump administration filed a notice of appeal shortly after the judgment, and an appeals court reinstated the levies on Thursday afternoon. The administration said it could ask the Supreme Court as early as Friday to pause the federal court’s original ruling if necessary.
Trade talks between the U.S. and China were also “a bit stalled,” Treasury Secretary Scott Bessent told Fox News in an interview Thursday local time.
In other markets
Markets in Taiwan were closed for holiday.
In China, the CSI 300 lost 18.47 points, or 0.5%, to 3,840.23.
In Korea, the Kospi index dipped 22.97 points, or 0.8%, to 2,697.67
In Singapore, the Straits Times index withered 22.23 points, or 0.6%, to 3,894.61
In New Zealand, the NZX 50 regained 137.55 points, or 1.1%, to 12,418.89
In Australia, the ASX 200 forged ahead 24.9 points, or 0.3%, to 8,434.71
