In a day of mixed trading across Asia-Pacific markets, Hong Kong’s Hang Seng Index experienced a significant drop of 2.35%, closing at 23,344.25. The Hang Seng Tech Index was hit even harder, plunging by 3.82%. This downturn occurred as investors grappled with the escalating uncertainty surrounding U.S. President Donald Trump’s threats to impose tariffs, which had a ripple effect across regional markets. In contrast, mainland China’s CSI 300 remained largely unaffected, closing flat at 3,932.30.
Other regional indices presented a mixed picture: India’s Nifty 50 rose by 0.32%, while Japan’s Nikkei 225 edged up by 0.46%. The broader Topix index also saw a slight increase of 0.24%. Meanwhile, South Korea’s Kospi index dropped 0.62%, and the Kosdaq fell 1.24%. In Australia, the S&P/ASX 200 closed almost flat with a marginal increase of 0.07%, as attention shifted to the upcoming budget announcement by Treasurer Jim Chalmers.
Investors across Asia-Pacific were focused on the potential global economic impact of Trump’s tariff threats, particularly in light of recent volatility in the U.S. markets. U.S. futures saw a slight dip following gains in the three key Wall Street indexes. The Dow Jones surged by 1.42%, the S&P 500 gained 1.76%, and the Nasdaq Composite rose by 2.27%, signaling some investor optimism despite international uncertainties.
Among the individual stocks, Tesla saw a sharp recovery, rising nearly 12% after falling for nine consecutive weeks. Other notable gainers included Meta Platforms and Nvidia, both of which rose by more than 3%. Despite these gains in U.S. stocks, concerns about global trade tensions and their effect on tech stocks were evident, with several major Chinese tech companies, including Xiaomi and BYD, experiencing significant losses.
source: cnbc