Asian stock markets followed Wall Street higher on March 26 as traders awaited more clarity on U.S. President Donald Trump’s upcoming trade policies. Investors were somewhat reassured by Trump’s comments on March 25, signaling that not all tariffs would be imposed by the April 2 deadline, and some countries could receive exemptions. However, details were scarce, keeping markets on edge as they awaited further announcements.
At the same time, Trump escalated his trade war by imposing a 25% secondary tariff on countries buying oil or gas from Venezuela. This move initially caused oil prices to rise, although the impact was somewhat mitigated by new maritime security agreements in the Black Sea, easing concerns over regional instability. As a result, oil prices saw moderate gains, with Brent crude and U.S. WTI crude both edging higher.
In Asia, major stock indexes posted gains, with Japan’s Nikkei up 0.35%, South Korea’s KOSPI rising 0.37%, and Australian stocks advancing 0.76%, bolstered by weaker-than-expected consumer price data. Hong Kong’s Hang Seng climbed 0.8%, while Chinese blue-chip stocks remained flat. Meanwhile, U.S. S&P 500 futures pointed slightly higher, indicating continued optimism despite trade uncertainties.
The U.S. dollar showed modest fluctuations as traders balanced the risk of tariffs with potential policy shifts. The Japanese yen strengthened slightly after Bank of Japan Governor Kazuo Ueda’s comments on slower interest rate hikes. Gold prices edged lower, staying just below their all-time high, while oil prices continued to rise amid ongoing tariff concerns.
source: reuters