# Asia Pacific Markets Updates, April 9, 2025

- Link: https://www.thailand-business-news.com/markets/208057-asia-pacific-markets-updates-april-9-2025
- Published: 2025-04-09T12:02:17+07:00
- Author: Abhishek Prakash

As of today, April 9, 2025, at 11:56 AM +07, Asia Pacific markets are reeling from
the implementation of U.S. President Donald Trump’s 104% tariff on Chinese imports,
which took effect at 12:01 a.m. Eastern Time (1:01 PM +07) earlier today.

This drastic escalation in the U.S.-China trade war, combined with a 10% baseline
tariff on imports from all countries unless otherwise specified, has triggered widespread
declines across the region’s stock markets, reflecting heightened uncertainty and
fears of a global economic slowdown.

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Japan’s Nikkei 225 plummeted nearly 4% at the open, though it has since moderated
losses to around 2.8% by midday, driven by concerns over the 24% tariff imposed 
on Japanese exports to the U.S., particularly impacting automakers like Toyota and
Honda. The yen, a traditional safe-haven currency, strengthened by about 1% against
the dollar to 148.02, signaling investor flight to safety. South Korea’s Kospi dropped
1.5%, with additional pressure from a 25% U.S. tariff, affecting tech giants like
Samsung amid already fragile domestic political tensions. Australia’s S&P/ASX 200
fell 1.3% to below 7,350, as commodity exporters brace for reduced demand from both
China and the U.S.

Hong Kong’s Hang Seng Index shed over 3% earlier today, with tech and property sectors
hit hardest, though it has clawed back slightly to a 2.5% loss by late morning. 
Mainland China’s CSI 300 and Shanghai Composite indices are down 1.2% and 1.1%, 
respectively, despite government efforts to prop up markets with state-backed buying.
China’s retaliatory 34% tariff on U.S. goods, announced in defiance of Trump’s measures,
has deepened the gloom, with the offshore yuan sliding 0.25% to 7.3132 against the
dollar after hitting a record low earlier.

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Taiwan’s Taiex declined 1.8%, with semiconductor firms like TSMC under strain as
the U.S.-China trade rift threatens supply chains critical to global tech. India’s
Nifty 50 and Sensex opened lower by 0.7% and 0.5%, respectively, as the rupee weakened
to 85.66 against the dollar, though pharma exports—exempt from tariffs—offer some
buffer. Indonesia’s Jakarta Composite slumped 2%, with the rupiah testing new lows
at 16,850, prompting speculation of central bank intervention.

Markets are reacting not just to the tariffs but to the broader implications: disrupted
trade flows, higher costs, and potential stagflation risks. Gold has surged past
$3,160 an ounce as a safe-haven asset, while U.S. stock futures point to a lower
open, with Dow futures down 2.4%. Analysts warn that the full impact will unfold
over weeks, with China’s Commerce Ministry vowing countermeasures and Japan’s government
calling the tariffs “regrettable.” For now, volatility rules the Asia Pacific, with
no clear bottom in sight as investors await further policy signals from both Washington
and Beijing.