Asia-Pacific markets fell Thursday, as investors weighed U.S. President Donald Trump’s proposed tariffs on autos, chips and pharmaceutical imports as well as the Federal Reserve potentially keeping rates higher for longer.
Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.
In Japan, the Nikkei 225 index dumped 486.57 points, or 1.2%, to 38,678.04.
The yen rose to a more than two-month high of 150.52 per U.S. dollar earlier in the day amid bets of more rate hikes by the Bank of Japan this year.
In Hong Kong, the Hang Seng index dropped 367.26 points, or 1.6%, to 22,576.98.
Australian markets shared in the downward trend. 1.15% lower at 8,322.80.
The country’s seasonally adjusted unemployment rate rose to 4.1% in January, in line with Reuters’ estimates.
In other markets
The CSI 300 in mainland China backpedaled 11.26 points, or 0.3% to 3,928.90
In Taiwan, the Taiex index shed 116.62 points, or 0.5%, to 23,487.46.
In Singapore, the Straits Times index gave back 6.53 points, or 0.2%, to 3,927.51
In Korea, the Kospi index deleted 17.46 points, or 0.7%, to 2,654.06.
In New Zealand, the NZX 50 subtracted 153 points, or 1.2%, to 12,880.36
In Australia, the ASX 200 surrendered 96.37 points, or 1.1%, to 8,322.82.
