Most Asian stocks fell on Friday, extending losses as investor anxiety grew over U.S. President Donald Trump’s aggressive tariff plans. Japanese markets led regional declines, with the Nikkei 225 and TOPIX sinking over 2% after Tokyo’s hotter-than-expected CPI data fueled speculation of a near-term Bank of Japan rate hike.
Auto and tech stocks were hit hardest. Shares of Toyota and Honda tumbled nearly 5%, extending losses from Thursday after Trump announced 25% tariffs on autos. In South Korea, Hyundai dropped 4.2%, while chipmaker SK Hynix slid 3.5%. Taiwan’s TSMC dipped 0.9%, and Hon Hai Precision plunged 3.4%. The broader tech sector faced pressure on fears of oversupply in AI data centers, especially after Microsoft reportedly canceled several data center leases.
Wall Street’s weak performance overnight, driven by tariff concerns and ahead of more duties set for April 2, set a negative tone for Asian markets. U.S. stock index futures traded flat in Asia, with investors eyeing upcoming PCE data for inflation cues.
Elsewhere, South Korea’s KOSPI lost 1.7%, mirroring Japan’s tech-led downturn. In China, the Shanghai Composite and CSI 300 edged down 0.4% and 0.2% respectively, while Hong Kong’s Hang Seng slipped 0.3% but remained on track to recover weekly losses. Despite Friday’s dip, Chinese stocks have outperformed in 2025 amid optimism over AI growth and Beijing’s policy support.
Australia’s ASX 200 rose 0.2% ahead of next week’s RBA meeting, where rates are expected to remain unchanged. Singapore’s Straits Times index edged up 0.1% after recent record highs. Indian Nifty 50 futures pointed to a flat open. Investors now await China’s March PMI data on Monday for further direction.


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