Asian shares trade mixed after Wall Street slumps on Trump tariff worries
Asian shares are trading mixed, as investors found bargains despite worries about President Donald Trump’s tariffs
TOKYO — Asian shares were trading mixed Monday, as investors found bargains despite worries about U.S. President Donald Trump's tariffs.
Japan's benchmark Nikkei 225 finished little changed, rising less than 0.1% to 38,801.17. The Japanese government reported a record current account surplus last year of 29 trillion yen ($191 billion), underlining strong returns on overseas investments, boosted by a weak yen and recovering Japanese exports.
The current account data, seen as a wide indicator for trade, grew nearly 30% from the previous year, to its highest since comparable records started being kept in 1985.
In currency trading, the U.S. dollar rose to 151.85 Japanese yen from 151.39 yen. The euro cost $1.0322, down from $1.0328.
The Hang Seng index jumped 1.6% to 21,474.18, and the Shanghai Composite added 0.6% to 3,323.84, despite Trump’s tariffs on Chinese imports.
Technology shares were among the gainers, as hopes grew for Chinese stimulus measures. China is retaliating with tariffs on select American imports and has announced an antitrust investigation into Google.
Trump said he would act Monday to apply 25% tariffs on all steel and aluminum imports from all countries into the U.S.
Stephen Innes, managing partner at SPI Asset Management, believes markets are in for turbulence, noting Asian economies will feel the impact from the tariffs, including those on imports from Mexico and Canada.
Trump has given 30-day reprieves for tariffs on all goods from Mexico and Canada. But the newly announced 25% tariffs on all steel and aluminum imports would apply to them.
“Asian markets are staring down the barrel
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