Asia Mixed on New Tariff Proposals

Asia-Pacific stocks traded mixed Wednesday after U.S. President Donald Trump proposed tariffs “in the neighborhood of 25%” on autos, semiconductors and pharmaceutical imports.In Japan, the Nikkei 225 index dipped 105.79 points, or 0.3%, to 39,164.61. The country had reported a two-year high trade deficit.In Hong Kong, the Hang Seng index dropped 32.57 points, or 0.1%, to 22,944.24. Business sentiment for Japanese manufacturers rose for the second month in February, results from the Reuters Tankan poll indicates. The manufacturers’ sentiment index rose to plus 3 — its highest level since November — from plus 2 in January.Australian markets lost strength a day after the country’s central bank cut rates by 25 basis points to 4.10%, marking its first easing since November 2020.The Reserve Bank of New Zealand cut rates by 50 basis points to 3.75% in its policy meeting, in line with Reuters’ estimates. The marks the central bank’s fourth straight cut and comes as its economy slows.In other marketsThe CSI 300 in mainland China regained 27.38 points, or 0.7% to 3,940.16In Taiwan, the Taiex index shed 62.03 points, or 0.3%, to 23,604.08.In Singapore, the Straits Times index took on 8.48 points, or 0.2%, to 3,934.04In Korea, the Kospi index jumped 44.71 points, or 1.7%, to 2,671.52.In New Zealand, the NZX 50 faded 17.76 points, or 0.1%, to 13,033.36In Australia, the ASX 200 surrendered 61.82 points, or 0.7%, to 8,419.19.