Asia-Pacific markets rose Tuesday, rebounding from previous session’s losses over U.S. President Donald Trump’s tariff policy and threats of even higher levies against China.
Hong Kong’s Hang Seng Index climbed 1.58%, while the Hang Seng Tech Index jumped 3.57%. Hong Kong’s stock market led losses in the region on Monday, with the Hang Seng Index plummeting over 13% to log its steepest one-day decline since 1997, data from FactSet showed.
Indonesia’s Jakarta Composite slid over 7.63% after trading resumed following a temporary circuit breaker.
Trump his aggressive global tariffs strategy over the weekend, with an initial unilateral 10% tariff going into effect Saturday. Wall Street had been hoping for signs of progress in negotiations between the U.S. and other countries, with the ‘reciprocal’ tariffs set to begin on April 9.
“Asian equities suffered their worst rout in years, plunging to multi-year lows in a day marked by panic and uncertainty,” said Murthy Gandhi, company profiles analyst at data and analytics firm Global Data.
“The renewed trade war fears have reignited concerns of a global economic slowdown, shattering already fragile investor confidence,” he said, adding that the path forward hinges on policy clarity and diplomatic engagement.
Overnight in the U.S., the three major averages closed lower. The Dow Jones Industrial Average fell for a third day following President Donald Trump’s tariff rollout, dropping 0.91% to close at 37,965.60.
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