Wednesday 12th March 2025: Asia-Pacific Markets Mixed as Wall Street Slides on Tariff Uncertainty

Global Markets:

•  Asian Stock Markets : Nikkei down 0.71%, Shanghai Composite down 0.32%, Hang Seng down 0.81% ASX down 0.91%
• Commodities : Gold at $2902.35 (0.10%), Silver at $32.5 (0.18%), Brent Oil at $69.25 (-0.05%), WTI Oil at $65.88 (-0.14%)
• Rates : US 10-year yield at 4.183, UK 10-year yield at 4.645, Germany 10-year yield at 2.8250

News & Data:

• (USD) JOLTS Job Openings 7.74M  to 7.65M expected

Markets Update:

Asia-Pacific markets were mixed Wednesday as Wall Street remained volatile due to uncertainty over U.S. President Donald Trump’s tariff plans and recession fears. The White House confirmed that 25% tariffs on steel and aluminum would apply to Canada and other nations but scrapped plans to raise Canadian tariffs to 50%. Japan’s Nikkei 225 rose 0.31%, and the Topix gained 1.20%, reversing previous losses. Nissan shares climbed 0.61% after CEO Makoto Uchida announced his resignation, with Ivan Espinosa set to succeed him. Nissan’s merger talks with Honda ended, though Honda remains open to future discussions. Honda shares fell 0.31%.

Japan’s wholesale inflation hit 4% in February, still above the 2% target, increasing expectations for a Bank of Japan rate hike. Nomura predicts rate hikes in July 2025 and January 2026. South Korea’s Kospi rose 1.31%, while Hong Kong’s Hang Seng fell 0.23%. China’s CSI 300 dropped 0.22%, with government bond yields nearing key levels. Tech company Robosense saw a surge of 18.28% in the Hong Kong market, while jewelry chain Chow Tai Fook advanced 7.15%. Australia’s S&P/ASX 200 declined 1.32%, while India’s Nifty 50 and Sensex fell 0.41% and 0.18%, respectively. NSE India CEO Ashish Chauhan noted that the country raised $19.2 billion in listings last year, the highest globally.

U.S. stocks slid overnight due to tariff uncertainty. The S&P 500 fell 0.76%, the Dow dropped 478.23 points, and the Nasdaq declined 0.18%. The S&P 500 briefly turned positive before Trump announced on Truth Social that Canadian steel and aluminum duties would double to 50% from 25%, effective Wednesday, in response to Ontario Premier Doug Ford’s electricity surcharge on U.S. exports. This policy shift pushed Wall Street closer to correction territory, defined as a 10% decline from a recent high. The ongoing uncertainty weighed on market sentiment, with investors assessing potential risks.

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The post Wednesday 12th March 2025: Asia-Pacific Markets Mixed as Wall Street Slides on Tariff Uncertainty first appeared on IC Markets | Official Blog.