Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
Australian Household Spending Dips in December as RBA Tightens Policy 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Australian Pension Funds Boost Currency Hedging as Aussie Dollar Strengthens 
Chinese and Hong Kong stocks suffered steep losses on Monday as U.S.-China trade tensions intensified, sparking fears of a prolonged economic conflict. The Shanghai Shenzhen CSI 300 index fell nearly 6%, while the Shanghai Composite dropped 6%, both hitting their lowest levels since September 2024. Hong Kong’s Hang Seng Index plunged 8.8%, marking its worst day since February, with tech and export-driven stocks leading the decline.
The market sell-off followed fresh U.S. tariff hikes. President Donald Trump announced a new 34% tariff on Chinese goods, in addition to the existing 20% duties, and confirmed a 25% tariff on imported vehicles and auto parts effective April 9. In retaliation, Beijing imposed a 34% tariff on a broad range of U.S. imports, including agricultural products, energy resources, and tech components.
Global markets reacted sharply to the escalating tariff battle, which analysts say signals the beginning of a second, more severe trade war. "Earlier responses to fentanyl-related tariffs left room for negotiation, but this latest move shuts that window," ING analysts noted.
Hong Kong-listed tech giants took a major hit. Alibaba (HK:9988) shares sank 12%, while Baidu (HK:9888) dropped over 10%. Auto and semiconductor stocks also tumbled. BYD Co (HK:1211), Geely Automobile (HK:0175), Xpeng Inc (HK:9868), Semiconductor Manufacturing International Corp (HK:0981), and SAIC Motor (SS:600104) all saw declines ranging from 6% to 11%.
The latest round of tit-for-tat tariffs has heightened concerns over a deeper global trade slowdown, casting a shadow over the Asian markets and investor sentiment.
