Asia Sustains Losses as Investors Assess Tariffs

Asia-Pacific markets mostly fell Tuesday, as investors weighed U.S. President Donald Trump’s escalatory rhetoric on tariffs and assessed his move to fire Federal Reserve Governor Lisa Cook. In Japan, the Nikkei capsized 413.42 points, or 1%, to 42,394.40. In Hong Kong, the Hang Seng lost 304.99 points, or 1.2%, to 25,524.92. Investors also assessed the meeting between South Korean and U.S. presidents over fleshing out the trade deal announced last month that stipulated 15% tariffs on the Asian country’s exports to the U.S. CHINA In Shanghai, the CSI 300 slid 16.63 points, or 0.4%, to 4,452.59. Trump reportedly warned of “200% tariffs or something” on China if it does not export rare-earth magnets to the U.S, while also threatening levies on countries that do not remove digital taxes and related regulations. In other markets In Singapore, the Straits Times index scaled back 12.78 points, or 0.3%, to 4,243.71 In Korea, the Kospi demurred 30.5 points, or 1%, to 3,179.36. In Taiwan, the Taiex index gained 27.72 points, or 0.1%, to 24,305.10. In New Zealand, the NZX 50 journeyed earthward 121.51 points, or 0.9%, to 12,957.98 In Australia, the ASX 200 skidded 36.83 points, or 0.4%, to 8,935.59.