Wednesday 16th April 2025: Asia Stocks Fall as Tariff Worries Mount

Global Markets:

•  Asian Stock Markets : Nikkei down 1.55%, Shanghai Composite down 0.68%, Hang Seng down 2.64% ASX up 0.01%
• Commodities : Gold at $3307.35 (2.09%), Silver at $32.47 (0.58%), Brent Oil at $64.35 (-0.45%), WTI Oil at $60.96 (-0.34%)
• Rates : US 10-year yield at 4.320, UK 10-year yield at 4.6495, Germany 10-year yield at 2.5440

News & Data:

• (CAD) CPI m/m  0.3%  to 0.7%  expected
• (CAD) Median CPI y/y  2.9%  to 2.9%  expected
• (CAD) Trimmed CPI y/y  2.8%  to 3.0%  expected
• (CAD) Common CPI y/y  2.3%  to 2.5%  expected

Markets Update:

Asia-Pacific markets mostly declined on Wednesday, tracking overnight losses on Wall Street as investors weighed corporate earnings and ongoing tariff concerns. Hong Kong’s Hang Seng Index dropped 2.11%, while China’s CSI 300 fell 0.84%, despite the country reporting stronger-than-expected first-quarter GDP growth of 5.4%, surpassing Reuters’ forecast of 5.1%. However, U.S. tariff threats have prompted major investment banks to lower China’s annual growth projections.

Japan’s Nikkei 225 edged down 0.3%. South Korea’s Kospi declined 0.47%, and the Kosdaq slipped 0.44%. In contrast, Australia’s S&P/ASX 200 inched up 0.19%.

Adding to trade tensions, Bloomberg reported Tuesday that China has ordered airlines to suspend Boeing jet deliveries amid the tariff standoff with the U.S. Louis Navellier of Navellier & Associates suggested that this move could lead to renewed negotiations, as pressure mounts on the White House from affected industries like aerospace and technology.

Meanwhile, U.S. stock futures slipped as markets awaited key retail sales data and further earnings reports. Dow Jones futures were down 139 points (0.3%), while S&P 500 and Nasdaq 100 futures fell 0.7% and 1.1%, respectively.

Overnight, Wall Street ended lower: the Dow shed 155.83 points (0.38%), the S&P 500 dipped 0.17%, and the Nasdaq Composite slipped 0.05% after two days of gains.

Upcoming Events: 

• 12:30 PM GMT – USD Core Retail Sales m/m
• 12:30 PM GMT – USD Retail Sales m/m
• 01:45 PM GMT – CAD Overnight Rate
• 02:30 PM GMT – CAD BOC Press Conference
• 05:30 PM GMT – USD Fed chair Powell Speaks

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