Asia conducted on Monday, seeking comparisons with the historic market after President Donald Trump confirmed that the US needed a “medicine” to correct its sustainable trade deficit, even as His “release” tariffs Send markets off the rock.
Is the market on Monday shipped the worst after the COVID pandemic start? The worst thing after the great financial crisis of 2008? Or, in some markets, this is the worst … If -nothing?
As of the middle of the day local time, the indicative index Hong Kong Seng decreased by approximately 12.5%, which is the worst decrease since 2008 and close to By wiping it out In the year 2025, the most valuable company in China has decreased by more than 12%. The Lenovo PC manufacturer decreased by more than 22%, the largest fall of the Global Company 500, based in the Asia-Pacific region.
The Chinese CSI 300, which tracks companies trading in Shanghai and Shenzhen, decreased by 7.1%.
The pain spread throughout the region. On Monday, in Japan, Nikkei 225 plunged more than 7.8%, his third day of steep losses, as Trump announced 24% of the country’s tariffs. South Korean Caspians decreased by 5.6%, and in Australia S&P 200 decreased by 4.2%. Indian Nifty 50 decreased by about 4.5%when in India in the afternoon.
Taiwan stopped trading after abandoning the exchange switch almost immediately after the markets were opened. The Tike Index on the island decreased by 9.7%; TSMC, the most valuable company in Asia, plunged by 10%, wiping $ 74 billion with a market value in minutes.
By mid-day, local time Singapore’s Straits Times fell by about 8%and DBS, the largest Southeast Asia bank, which fell more than 9.5%. Falling in the IPP is approaching a record record by 8.3% compared to 2008 during the global financial crisis.
The negative sentiments will probably continue in US S&P 500 futures will currently fall by 4.9%, while NASDAQ’s 100 futures decreased by 5.6%, which put the US on the road for the bear.
Do not “postpone”
On Sunday, Trump told reporters that the US trade deficit was “resolved” in any transaction with China. He also abandoned the hassle of investors who have been drawn by S&P 500 by 10.5%since April 2.
“Forget about markets for a second – we have all the benefits,”said Trump. “I don’t want something to go down but sometimes you need to take medication to fix something”
Other members of the president’s internal circle suggested that the White House would follow the tariffs. “Send”, no “, Secretary of Trade Howard Lutnita said on CBS News’s Face to the nationIn response to the question, Trump could postpone his new tariffs.
Trump officials were frequently confused. On nbc Meet the press. Minister Finance Scott Import He said more than 50 countries appealed to the US to start negotiations and suggested that Trump had created a “maximum lever” for the deal.
Since April 2, several Asian economies, including Vietnam. Taiga And Cambodia suggested cut, if not removed, their US import tariffs. Still Peter Navaro, Senior Presidential Trade Advisor, propose That in order to satisfy the administration, the simple zero from the tariffs will not be enough.
“If you just lowered our tariffs and they reduced our tariffs to zero, we would still run about $ 120 billion in trade deficit with Vietnam,” Navaro said at Fox News. “The problem is that all non -tariffs cheat what they do.”
Beijing reflects back
Monday is also the first trading day since Beijing imposed 34% tariff About all US imports, Trump’s tax “Liberation Day” tax. Chinese measures came into force on April 10, the day after Trump’s tariffs began.
Beijing also struck export control on a number of rare land minerals, launched new antitrust proxes in the US, and added several companies to its blacklisted “unreliable entities”.
Steep tariffs on the US as well end de minimis exemptionIt is likely that China’s economy will be harmful, especially in those sectors that rely on the US consumer market. HSBC estimates that US Tariffs may reduce China’s GDP by 1.5 percentage.
However, economists believe that China is well prepared for the second trading bustle with Trump. “China spent years preparing for the potential escalation scenario of the trade war,” said Zoya Zonguan Liu, a senior employee on China’s research on foreign relations, on Bloomberg Monday.
Beijing is most likely state Daily people wrote in Editing on the front page Monday.
Other countries like Australia and Singapore. And some, As the PhilippinesSee the relatively lower tariffs in the US as an opportunity to take on the market share.
Japan and South Korea also plan to contact the US to ask for a decrease in the tariff rate. “We have to make it clear that our country is doing nothing unfair,” said Japanese Prime Minister Shiger Isel The country’s parliament Monday.
Originally this story was presented on Fortune.com
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2025-04-07 07:24:00
Nicholas Gordon
