Asian markets settled down on Friday ahead of the release of the Federal Reserve's preferred inflation gauge, the PCE price index, later in the day for additional clues on the US Fed's interest rate trajectory in 2025. Chinese and Hong Kong shares declined as concerns over a potential global trade war heightened. China vowed to take all necessary countermeasures and defend its legitimate rights and interests after US President Donald Trump said he would impose an additional 10% tariff on Chinese imports, intensifying a brewing trade war between the world's two largest economies. Japanese shares plunged amid much uncertainty over how earnings of companies operating overseas would be affected by the US tariff policies. Moreover, sharp declines in chip-related stocks following Nvidia's slump has also dampened market sentiments. Stock market of Taiwan is closed for Peace Memorial Day.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,320.90 | -67.16 | -2.02 |
| Hang Seng | 22,941.32 | -776.97 | -3.39 |
| Jakarta Composite | 6,270.60 | -214.85 | -3.43 |
| KLSE Composite | 1,574.70 | -11.90 | -0.75 |
| Nikkei 225 | 37,155.50 | -1,100.67 | -2.96 |
| Straits Times | 3,895.70 | -25.49 | -0.65 |
| KOSPI Composite | 2,532.78 | -88.97 | -3.51 |
| Taiwan Weighted | -- | -- | -- |
