On Monday, Asia spent the search for comparisons with a decrease in the historical market, after President Donald Trump confirmed that the United States needs “medicine” to reform its continuous trade deficit, even at a time when the “Tahrir Day” tariffs are sending the markets outside the cliff.
Is the two markets drowning the worst since the beginning of the roaming epidemic? The worst since the 2008 great financial crisis? Or, for some markets, is it the worst … at all?
As of the local time in the middle of the back, the Hang Kong Index in Hang Kong decreased by 12.5 %, which is the worst decrease since 2008 and close to erasing its gains for the year 2025. Tenstant, the most valuable company in China, has decreased by more than 12 %. Lenovo, manufacturer of computers, has decreased by more than 22 %, which is the largest decline by a 500 -based global company in the Asia Pacific region.
The Chinese CSI 300, which tracked the companies traded in Shanghai and Shenzhen, decreased by 7.1 %.
The pain spread throughout the region. The Japanese Nikki 225 fell by more than 7.8 % on Monday, the third day of sharp losses since Trump announced a 24 % tariff against the country. The KOSPI index in South Korea decreased by 5.6 %, and the S&P/ASX 200 decreased in Australia by 4.2 %. NIFTy 50 in India fell by 4.5 % to the early in the afternoon, India’s time.
Taiwan stopped trading after declines to the Stock Exchange circuit sector immediately after opening the markets. The island’s standard rayx index decreased by 9.7 %; TSMC, the most valuable company in Asia, decreased by 10 %, wiped 74 billion dollars in the market maker within minutes.
By mid -afternoon local time, the Singapore’s Straits Times has decreased by approximately 8 %, as DBS, the largest bank in Southeast Asia, decreased by more than 9.5 %. The STI decrease is close to the 3.3 % decrease in the record of the laboratory since 2008, during the global financial crisis.
Negative feelings of futures in the United States are likely to continue 4.9 %, while future NASDAQ 100 % decreased by 5.6 %, putting the United States on the right track of the bear market.
No “postponement”
On Sunday, Trump told the correspondents that he wanted to “solve” the American trade deficit as part of any deal with China. The investor’s fears, which took place S&P 500, were 10.5 % since April 2.
“Forget the market for a second – we have all the advantages,”Trump said. “I don’t want anything to decrease, but sometimes you have to take the medicine to fix something,”
Other members of the president’s internal circle suggested that the White House will adhere to the tariffs. “There is no delay,” The Minister of Commerce, Howard Lottenic On CBS News Facing the nationIn response to a question about whether Trump may delay his new definitions.
The correspondence was often confused. On NBC Meetand Treasury Secretary Scott Bessin He said that more than 50 countries have come close to the United States to start negotiations, and Trump suggested that it be “the maximum amount of leverage” for a deal.
Since April 2, many Asian economies, including Vietnam, Taiwan Cambodia had offered a reduction, if not the removal, their tariffs on US imports. However, Peter Navarro, the chief trade consultant for the president, Proposal Live zero outside the definitions will not be enough to satisfy the administration.
“If you simply reduce our customs tariffs and reduce our tariff to scratch, we can still run a trade deficit of $ 120 billion with Vietnam,” said Navarro at Fox News. “The problem is that everything they betray without pedestrians.”
Beijing punches again
Also Monday is the first trading day since Beijing imposed a 34 % tariff on all American imports, in response to “Liberation Day” taxes in Trump. Chinese reprisals enter into force on April 10, the next day to start the Trump tariff.
Beijing also slapped the export control items on a group of rare ground minerals, launched new anti -pregnancy investigations in American industries, and also added many companies to a “unreliable” list.
American definitions, as well as end This is the minimum It is possible that the exemption from the Chinese economy, especially those sectors that depend on the American consumer market. HSBC estimates that the American customs tariff can reduce the growth of GDP in China by 1.5 percentage points.
However, economists suggest that China is well prepared for its second trade fall with Trump. Zoe Zongiwan Liu, an older colleague of Chinese studies in the Council of Foreign Relations, said, said Zoe Zongiwan Liu, a colleague of Chinese studies in the Council of Foreign Relations, said, Ali Bloomberg on monday.
Beijing is likely to stimulate local consumption and expand in new markets outside the United States, China plans to make consumption a “major driver and whistle” for economic growth, State -owned People daily Write An opening article on the first page on monday.
Other countries, like Australia and SingaporeThey are disappointed publicly, but they stop revenge measures today. Some, like the Philippines, see a relatively less American tariff as an opportunity to take the market share of competitors.
Japan and South Korea are also planning to contact the United States to request a decrease in the rate of tariffs. “We must make it clear that our country does not do anything unfair,” said Japanese Prime Minister Shigro Eshiba. Parliament of the country on monday.
This story was originally shown on Fortune.com
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