What's Affecting Markets Today
Asia-Pacific markets rebounded on Tuesday, recovering from sharp losses triggered by renewed trade tensions between the U.S. and China. The bounce followed U.S. President Donald Trump’s threat of additional 50% tariffs on Chinese imports unless Beijing removes its own duties on U.S. goods.
Japan’s Nikkei 225 surged 6.41%, and the broader Topix jumped 6.81%. South Korea’s Kospi gained 1.7%, while the Kosdaq advanced 2.35%. In Australia, the S&P/ASX 200 opened 0.18% higher.
Hong Kong’s Hang Seng Index rose 2.25%, with the Hang Seng Tech Index up 4.17%, rebounding from Monday’s steep losses. The Hang Seng had dropped more than 13%—its sharpest one-day fall since 1997, according to FactSet.
China’s CSI 300 edged up 0.24%, while Southeast Asian markets remained under pressure. Indonesia’s Jakarta Composite plunged over 9% after trading resumed post-circuit breaker. Vietnam’s benchmark index lost over 5% returning from a holiday, and Thailand’s SET Index slid more than 4%, hitting lows not seen since March 2020.
Trump’s global tariff strategy remains firm, with initial 10% levies implemented Saturday. Broader reciprocal tariffs are expected from April 9.
ASX Stocks
ASX 200 - 7,475.2 (+1.80%)
The Australian sharemarket rebounded strongly on Tuesday, with the S&P/ASX 200 Index rising 1.9% (139.4 points) to 7482.7 by mid-afternoon, recovering part of Monday’s 4.2% loss. The All Ordinaries gained 2%, following a rally in Chinese equities and US futures despite continued geopolitical tensions.
Investor sentiment improved after Wall Street’s volatile session, where the S&P 500 saw a 410-point swing before closing slightly higher. US President Donald Trump’s threat of further 50% tariffs on Chinese imports prompted Beijing to vow countermeasures, fuelling speculation of central bank rate cuts.
All 11 ASX sectors traded higher, led by energy, mining, and technology. Santos rose 5.2%, BHP added 1.8%, and tech names like WiseTech and Life360 jumped 4.6% and 7.5%, respectively. Zip surged 5.5% after announcing a $50 million buyback. Commonwealth Bank gained 2%, though investors remained cautious on financials.
Guzman y Gomez rose 4.6% on strong Q3 sales and its first dividend outlook. Waypoint REIT advanced 2.9% after confirming minimal impact from Viva Energy’s transformation and announcing a $50 million buyback.
Leaders
BOE Boss Energy Ltd (+10.00%)
ZIM Zimplats Holdings Ltd (+9.69%)
XYZ Block, Inc (+9.47%)
WHC Whitehaven Coal Ltd (+8.85%)
DYL Deep Yellow Ltd (+8.64%)
Laggards
BGP Briscoe Group Aus (-6.90%)
HMC HMC Capital Ltd (-4.64%)
AMP AMP Ltd (-4.57%)
WA1 WA1 Resources Ltd (-4.16%)
BAP Bapcor Ltd (-3.64%)
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