On Friday morning (26 September, 9:09 AM, GMT+7, Bangkok time), most indices in Asia Pacific decreased following U.S. President Donald Trump’s announcement on new tariffs, involving furniture, heavy trucks and pharmaceutical products.
Trump has announced that a 100% tariff will be imposed on imported pharmaceutical products effective October 1, unless companies are actively constructing pharmaceutical manufacturing facilities within the United States. The policy grants exemption to firms that have already commenced building, including those projects that have broken ground or are currently underway.
This move comes alongside a series of additional trade protection measures, including a 25% tariff on heavy trucks and a 50% duty on kitchen cabinets, bathroom vanities, and related goods, also effective from October 1.
Meanwhile, market participants also evaluated fresh inflation figures for September from Tokyo. Core consumer prices in the city increased by 2.5%, falling short of the 2.8% rise anticipated by economists surveyed by Reuters. Headline inflation remained unchanged at 2.5%.
Japan’s NIKKEI slid by 0.01% to 45,748.26. South Korea’s KOSPI plummeted by 1.91% to 3,404.73, while Australia’s ASX 200 climbed by 0.01% to 8,774.1.
As for stocks in China, Shanghai’s SSEC declined by 0.25% to 3,843.60. Hong Kong’s HSI contracted by 0.73% to 26,291.71, and Shenzhen’s SZI fell by 0.42% to 13,390.15.
The U.S. stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) lost 0.38% to 45,947.32. NASDAQ decreased by 0.5% to 22,384.69, and S&P 500 dropped by 0.5% to 6,604.72. VIX jumped by 3.46% to 16.74.
As for commodities, oil prices moved relatively flat on Thursday, prompted by Russia’s decision to extend fuel export restrictions through the end of the year. Fresh U.S. economic data, on the other hand, capped gains as it dampened hopes for additional interest rate reductions. Brent crude futures finished up 11 cents, or 0.16%, at $69.42 per barrel, while U.S. West Texas Intermediate futures edged down by 1 cent, or 0.02%, settling at $64.98.
This morning, Brent futures gained 25 cents, or 0.36%, to $69.67 a barrel, and the WTI surged 34 cents, or 0.52%, to $65.32 per barrel.
Meanwhile, gold futures shrank 0.07% to $3,768.4 per Troy ounce.
