Asian markets settled mostly down on Friday tracking Wall Street’s overnight fall as investors lowered expectations for significant Federal Reserve interest rate cuts following stronger-than-anticipated economic data. Investors also awaited key US inflation reading later in the day for more clues on the outlook for rates. Market sentiments weakened further as Trump revealed plans to levy a 100% duties on imported branded drugs, 25% tariffs on heavy-duty trucks and 50% tariffs on kitchen cabinets. All new duties will take effect on October 1. South Korean shares experienced a significant decline and snapped a four-week rally, due to uncertainty surrounding trade talks with Washington and due to profit taking ahead of the Chuseok holiday. Hong Kong shares dropped on valuation and tariff jitters.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,828.11 | - | - |
Hang Seng | 26,097.00 | - | - |
Jakarta Composite | 8,099.33 | 58.66 | 0.72 |
KLSE Composite | 1,609.05 | 10.58 | 0.66 |
Nikkei 225 | 45,444.00 | -310.93 | -0.68 |
Straits Times | 4,265.98 | - | - |
KOSPI Composite | 3,386.05 | - | - |
Taiwan Weighted | 25,580.32 | - | -1.73 |
