Asian-Pacific markets faced a turbulent Monday, driven by anticipation of fresh tariffs from U.S. President Donald Trump later in the week that could potentially impact Asian markets.
Japan’s Nikkei 225 notably entered correction territory, closing with a steep decline of 4.05% at 35,617.56—a drop of nearly 12% from its December peak. Similarly, the Topix index fell 3.57%, landing at 2,658.73.
Australia’s markets weren’t spared either, as the S&P/ASX 200 dipped by 1.54% to 7,859.30 ahead of the Reserve Bank of Australia’s meeting on Tuesday. Expectations lean towards the central bank maintaining interest rates at 4.1%, a decision closely tied to the nation’s upcoming elections on May 3.
Read: Asian Stocks Down As Thailand Suspends Trading
Chinese Markets Flat on Asian Markets Trading
Mainland China’s CSI 300 saw a softer fall, down 0.67% toward the end of the trading day on Asian markets, while Hong Kong’s Hang Seng Index marked a 1.21% loss. Meanwhile, China’s NBS Manufacturing PMI for March recorded 50.5, a slight improvement from February’s 50.2, aligning with economists’ predictions.
India’s stock markets remained closed due to a public holiday.
“Market sentiment across Asian markets reflect apprehension amid geopolitical developments and policy changes, setting the stage for an eventful week in global finance,” The Trading Room Analysts Commented.
