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2 months ago
24
Source: AFP
Asian markets were mixed Friday arsenic traders brace for adjacent week's expected question of US tariffs, portion car firms extended their achy losses pursuing President Donald Trump's announcement of steep levies connected conveyance imports.
The temper connected trading floors has soured successful caller weeks arsenic the White House presses up with its hardball argumentation attack that has deed person and foe alike and fuelled recession fears.
The president's pledge to enforce 25 percent levies connected each autos coming into the United States overshadowed earlier indications that planned reciprocal measures owed connected Trump's alleged "Liberation Day" connected April 2.
Governments astir the satellite person deed retired astatine the announcement, with Canadian Prime Minister Mark Carney saying the "old relationship" of heavy economic, information and subject ties with Washington "is over".
But warnings of retaliation person stoked worries of a long-running planetary commercialized warfare and a reignition of ostentation that could unit cardinal banks to rethink plans to chopped involvement rates.
Uncertainty implicit Trump's plans and semipermanent intentions has led to uncertainty among investors, sparking a unreserved retired of hazard assets into harmless havens specified arsenic gold, which deed a caller grounds precocious of $3,066.56 Friday.
Analysts said that portion determination is anticipation negotiations with Washington could spot the duties tempered, investors were apt choosing to play a wait-and-see game.
After different down time connected Wall Street, equity markets successful Asia were mixed Friday, with car firms again taking the brunt.
Tokyo sank much than 2 percent arsenic Toyota -- the world's biggest carmaker -- Honda, Nissan and Mazda tumbled betwixt 1.5 and 3.9 percent.
Also heavy successful the reddish was Nippon Steel aft it said it would put arsenic overmuch arsenic $7 cardinal to upgrade US Steel if its immense takeover goes ahead. It had initially flagged a $2.7 cardinal investment.
Seoul was disconnected much than 1 percent arsenic Hyundai gave up 3.1 percent.
Tariff worries besides saw Shanghai, Taipei and Manila fall.
However, Hong Kong precocious acknowledgment to a rally successful Chinese tech firms, portion Sydney, Singapore and Wellington were besides successful the green.
Investors volition beryllium keeping a adjacent oculus connected the merchandise aboriginal successful the time of US idiosyncratic depletion expenditures information -- the Federal Reserve's preferred gauge of ostentation -- hoping for an thought astir the interaction of Trump's policies.
The figures travel aft information this week showed user assurance was astatine its lowest level since 2021 -- during the pandemic -- owing to increasing concerns implicit higher prices.
News that the US economy expanded astatine a somewhat faster gait than estimated successful the last 3 months past twelvemonth did small to disturbance excitement.
On currency markets the yen strengthened against the dollar aft a study showing ostentation successful Tokyo -- a barometer of Japan arsenic a full -- roseate much than expected successful March, boosting bets connected different cardinal slope complaint hike.
Key figures astir 0230 GMT
Tokyo - Nikkei 225: DOWN 2.1 percent astatine 37,011.66 (close)
Hong Kong - Hang Seng Index: UP 0.4 percent astatine 23,661.60
Shanghai - Composite: DOWN 0.3 percent astatine 3,365.23
Euro/dollar: DOWN astatine $1.0794 from $1.0796 connected Thursday
Pound/dollar: UP astatine $1.2949 from $1.2947
Dollar/yen: DOWN astatine 150.78 yen from 151.04 yen
Euro/pound: DOWN astatine 83.36 pence from 83.38 pence
West Texas Intermediate: FLAT astatine $69.90 per barrel
Brent North Sea Crude: FLAT astatine $74.00 per barrel
New York - Dow: DOWN 0.4 percent astatine 42,299.70 (close)
London - FTSE 100: DOWN 0.3 percent astatine 8,666.12 (close)
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Source: AFP
