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What's Affecting Markets Today
Asia-Pacific markets traded mixed on Thursday, reflecting overnight losses on Wall Street as investors assessed the impact of U.S. President Donald Trump’s proposed 25% tariffs on auto imports.
Japan’s Nikkei 225 slipped 0.93%, while the broader Topix eased 0.44%. South Korea’s Kospi dropped 0.98% and the Kosdaq lost 0.81%. In contrast, Hong Kong’s Hang Seng Index rose 0.87%, and mainland China’s CSI 300 gained 0.43%. Australia’s S&P/ASX 200 fell 0.56%.
The cautious sentiment followed a sharp sell-off in U.S. equities. The S&P 500 closed 1.12% lower at 5,712.20, while the Dow Jones Industrial Average dropped 132.71 points, or 0.31%, to 42,454.79. The Nasdaq Composite underperformed, falling 2.04% to 17,899.01, weighed down by a 6% decline in Nvidia.
Other major technology stocks also struggled. Meta Platforms and Amazon both shed over 2%, Alphabet dropped more than 3%, and Tesla declined more than 5%. U.S. futures edged lower in early Asia trade, signaling continued investor caution amid escalating trade tensions.
ASX Stocks
ASX 200 - 7,970.5 (-0.40%)
The Australian sharemarket fell on Thursday afternoon, ending a multi-day winning streak as renewed concerns over US trade policy weighed on sentiment. The S&P/ASX 200 declined 0.6% or 45.8 points to 7953.2 by 2pm, while the All Ordinaries slipped 0.7%. Technology stocks led losses, with seven of 11 sectors in the red.
Wall Street jitters followed US President Donald Trump’s announcement of 25% tariffs on auto imports. The EU warned it expects to face double-digit tariffs by April 2. The Nasdaq tumbled 2%, its sharpest fall in over three weeks, with Nvidia down 6% and Tesla off 5.6%.
Locally, WiseTech and NextDC dropped 2.8% and 5.1% respectively. Automotive names such as Bapcor, ARB, and Eagers Automotive also declined. Profit-taking pressured financials and property, with Goodman Group down 3.2%.
Pro Medicus fell 7.3%, while The Reject Shop soared 109.5% after a $259m takeover bid from Canada’s Dollarama. Healius jumped 12% on a $4.13 special dividend post-sale of Lumus Imaging. Domain slipped 4.9% after CoStar’s final offer, and Nine eased 1.3%.
Leaders
HLS Healius Ltd (+12.98%)
MEZ Meridian Energy Ltd (+6.12%)
RHC Ramsay Health Care Ltd (+4.33%)
GOR Gold Road Resources Ltd (+4.26%)
LTR Liontown Resources Ltd (+4.23%)
Laggards
TUA Tuas Ltd (-10.00%)
RPL Regal Partners Ltd (-9.62%)
EBR EBR Systems Inc (-8.96%)
ZIP ZIP Co Ltd (-7.92%)
VUL Vulcan Energy (-7.46%)
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