Global Markets:
- Asian Stock Markets : Nikkei down 0.71%, Shanghai Composite down 0.32%, Hang Seng down 0.81% ASX down 0.91%
- Commodities : Gold at $2902.35 (0.10%), Silver at $32.5 (0.18%), Brent Oil at $69.25 (-0.05%), WTI Oil at $65.88 (-0.14%)
- Rates : US 10-year yield at 4.183, UK 10-year yield at 4.645, Germany 10-year yield at 2.8250
News & Data:
- (JPY) Final GDP q/q 0.6% to 0.7% expected
Markets Update:
Asia-Pacific markets fell on Tuesday, following losses in the U.S. driven by concerns over tariff policies and a potential recession. Japan’s Nikkei 225 dropped 1.18%, recovering from deeper losses, while the Topix index declined 1.64%. Major losers included Konica Minolta (-7.52%) and Sumitomo Electric Industries (-5.79%). Japan’s revised Q4 GDP grew 2.2% annually, below economists’ expectations and the previous 2.8% estimate.
South Korea’s Kospi fell 1.19%, with the Kosdaq down 0.88%. Hong Kong’s Hang Seng dropped 0.75%, while China’s CSI 300 slid 0.66%. Taiwan’s Taiex index declined 1.61%, recovering from an earlier 3% drop. Australia’s S&P/ASX 200 closed 0.91% lower at 7,890.10, reversing gains from the previous session. India’s Nifty 50 remained flat, while the BSE Sensex slipped 0.27% in early trade.
In the U.S., stocks tumbled overnight on fears that Trump’s tariff policy could trigger a recession. The S&P 500 dropped 2.7%, touching its lowest point since September. The Nasdaq Composite fell 4%, marking its worst session since September 2022, while the Dow Jones declined 2.08% to 41,911.71. The S&P 500 is now 8.7% below its February 19 all-time high, while the Nasdaq Composite is down nearly 14%. A 10% drop is considered a correction on Wall Street.
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