Asian Stocks Plummet as China Hits Back on Trump’s Tarrifs

Asian Stock Markets on Monday, experienced a bloodbath as investors reacted to escalating trade tensions between the United States and China and concerns over global economic stability. The latest round of tariffs imposed by the United States has triggered widespread sell-offs across major indices, with Japan’s Nikkei 225, Hong Kong’s Hang Seng, and China’s Shanghai Composite all suffering significant losses.

On Saturday, China retaliated the Trump’s tariffs with a 34% reciprocal tariff on all US imports that will take effect starting 10th April actualizing its promise to strike back over the new tariffs by the United States.

Activities were further worsened after US President Donald Trump commented on duringa  press briefing at the White House on the reciprocal tariffs saying,”They do it us,and we do it to them.”

Asian Stock Markets Key Movements

Hong Kong’s Hang Seng led the decline, shedding 13.22% to close at 19,828.30, while the Hang Seng Tech Index plunged 17.16% to 4,401.51. Mainland China’s CSI 300 recorded its largest one-day drop since October, falling 7.05% to 3,589.44.

Japan also faced sharp losses, with the Nikkei 225 tumbling 7.83% to an 18-month low of 31,136.58. The broader Topix Index fell 7.79% to 2,288.66. Trading in Japanese futures was temporarily suspended earlier in the day due to circuit breakers being triggered on one of key Asian Stock market.

In South Korea, the Kospi Index declined 5.57% during Asian stock market hours to 2,328.20, while the small-cap Kosdaq Index fell 5.25% to 651.30.

Australia’s S&P/ASX 200 dropped 4.23%, ending the day at 7,343.30. The benchmark entered correction territory, having fallen 11% since its February high.

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India saw losses as well, with the Nifty 50 down 4.08% and the broader BSE Sensex losing 3.91% as of 1:50 p.m. local time.

This widespread sell-off on Asian stock markets highlights the volatility and challenges facing markets, with investors closely monitoring global economic conditions and regional developments.

Also Read: Japan’s Nikkei Decline as Asian Stocks Mixed on Global Uncertainties