Asian markets skid into weekend as trade fears cast a pall

Donald Trump's commercialized warfare against cardinal partners has fanned uncertainty among investors and raised concerns astir the economical outlook. Photo: MARTIN BERNETTI / AFP/File
Source: AFP

Asian markets limped into the play connected Friday pursuing a tepid pb from Wall Street arsenic the optimism stoked by a dovish US Federal Reserve gathering gave mode to long-running fears astir President Donald Trump's tariff agenda.

Traders took bosom from US cardinal slope brag Jerome Powell's comments that the interaction of hefty levies imposed connected imports from cardinal partners would apt beryllium transitional and from officials' forecasts that did not spot a feared recession this year.

That came days aft China unveiled a scope of measures aimed astatine boosting user spending and reigniting the world's fig 2 economy.

However, Trump's hardball commercialized policies proceed to formed a acheronian shadow, keeping sentiment and appetite for hazard successful check.

With cardinal slope meetings successful the United States, Japan, Britain and Sweden passing with small large quality and nary question connected monetary policy, the main absorption is backmost connected tariffs, with the adjacent question of measures owed to footwear successful astatine the commencement of April.

The uncertainty surrounding US argumentation -- with the White House imposing, delaying and past reimposing levies astatine the driblet of a chapeau -- has near traders with small prime but to instrumentality a measurement back.

"Equity investors are backmost focusing connected the uncertainty and antagonistic interaction that is apt to travel from a commercialized war," said National Australia Bank's Rodrigo Catril. "Sentiment remains fragile with investors tense and not definite whether to enactment connected hazard oregon instrumentality it off.

"Tariff uncertainty, arsenic we await the merchandise of the America First Trade Report owed connected 2 April, remains the large acheronian cloud."

In aboriginal trade, shares successful Hong Kong, Shanghai, Singapore, Taipei and Manila were successful antagonistic territory, portion Tokyo, Sydney, Seoul and Wellington edged up.

Unease astir the outlook continues to propulsion golden prices higher arsenic investors question retired a harmless haven from the volatility. The precious metallic was connected Friday sitting conscionable beneath the grounds $3,057.49 per ounce touched Thursday.

Oil prices were besides connected the mode up owing to rising geopolitical tensions arsenic Israel ramps up attacks successful Gaza and US forces onslaught Iran-backed Huthi rebels successful Yemen.

News that Washington had sanctioned a China-based lipid refinery that purchased Iranian lipid worthy astir $500 cardinal from Huthi-linked ships added to trader concerns.

Since returning to office, Trump has resumed his run of "maximum pressure" against Tehran and has already rolled retired sanctions against respective individuals and entities, including Iran's lipid minister.

Key figures astir 0230 GMT

Tokyo - Nikkei 225: UP 0.4 percent astatine 37,890.42 (break)

Hong Kong - Hang Seng Index: DOWN 0.2 percent astatine 24,167.75

Shanghai - Composite: DOWN 0.1 percent astatine 3,406.67

Euro/dollar: DOWN astatine $1.0854 from $1.0856 connected Thursday

Pound/dollar: DOWN astatine $1.2966 from $1.2967

Dollar/yen: UP astatine 149.15 yen from 148.76 yen

Euro/pound: UP astatine 83.74 pence from 83.72 pence

West Texas Intermediate: UP 0.7 percent astatine $68.51 per barrel

Brent North Sea Crude: UP 0.6 percent astatine $72.40 per barrel

New York - Dow: DOWN little than 0.1 percent astatine 41,953.32 points (close)

London - FTSE 100: DOWN little than 0.1 percent astatine 8,701.99 (close)

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Source: AFP