Asia-Pacific Markets See Mixed Performance Ahead of US Tariff Deadline
Asia-Pacific stock markets closed mixed on Friday as investors closely monitored the looming deadline for potential new US tariffs under President Donald Trump’s trade agenda, CNBC reports.
Uncertainty surrounding trade developments kept markets cautious, even as positive economic data in the US provided some global support.
Japan’s Nikkei 225 ended the session flat at 39,810.88, with the broader Topix index also unchanged at 2,827.95. In contrast, South Korea’s markets faced heavier losses — the Kospi dropped 1.99% to 3,054.28, while the tech-heavy Kosdaq fell 2.21% to 775.80.
Mainland China’s CSI 300 rose modestly by 0.36% to close at 3,982.20, while Hong Kong’s Hang Seng Index declined 0.68% in late trading.
Australia’s S&P/ASX 200 index closed nearly flat, edging up just 0.08% to 8,603. Indian markets were slightly weaker in midday trade, with the Nifty 50 down 0.17% and the BSE Sensex losing 0.18%.
Taiwan’s benchmark Taiex dropped 0.67%, led by declines in energy and healthcare stocks. Despite the weaker equity performance, the Taiwanese dollar strengthened 0.25% against the US dollar.
In Southeast Asia, the Jakarta Composite Index in Indonesia declined 0.42%, marking its fourth straight session of losses. The drop came amid reports of a pending $34 billion trade deal with the US and expectations of another interest rate cut by the Indonesian central bank.
Vietnamese stocks and currency also slipped. The Vietnamese dong weakened to 26,200 against the dollar, while the Vietnam Index hovered flat after earlier losses in key sectors like industrials and consumer goods.
Meanwhile, Alibaba Group announced plans to raise $1.53 billion through exchangeable bonds to support its cloud and commerce operations, following the recent expansion of its cloud infrastructure in Southeast Asia.
US markets were closed Friday for the Independence Day holiday. However, a strong jobs report released earlier in the week helped push major US indices to new records. The Dow Jones Industrial Average gained 344 points to close at 44,828.53, while the S&P 500 rose 0.83% and the Nasdaq climbed 1.02%, both reaching fresh all-time highs.
