Asian Markets Show Mixed Reactions to US Tariff Announcement

Following the announcement by United States Treasury Secretary Scott Bessent, Asian markets displayed a predominantly downward trend. The Secretary highlighted that "reciprocal" tariffs would be imposed on countries failing to reach a trade deal by August 1.

Market Performance Across Asia

At 4:24 am CET, South Korea's Kospi, the Shanghai Composite, and Australia's S&P/ASX 200 remained stable. However, by 4:25 am CET, Hong Kong's Hang Seng had dipped by 0.32%, and Japan's Nikkei 225 saw a 0.47% decrease by 4:26 am CET. The Shenzhen Composite in mainland China also experienced a 0.56% fall by 4:27 am CET.

Currency Movements

The dollar gained 0.15% against the yen, trading at 144.68900 by 4:29 am CET, indicating a slight strengthening in the currency market.