On Wednesday morning (21 January, 9:10 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific traded mixed amid losses on the U.S. markets after President Donald Trump increased pressure over the acquisition of Greenland with new tariff threats on European nations, prompting talk of countermeasures by the group, including the introduction of retaliatory duties.
The dispute intensified as Trump threatened to impose a 200% tariff on French wine and champagne, following reports that French President Emmanuel Macron declined to participate in Trump’s suggested “Board of Peace.”
Meanwhile, on his Truth Social platform, Trump published private correspondence with Macron, which included an offer from the French president to host an upcoming G7 gathering and a subsequent dinner event.
In Macron’s message, he put forward the idea of inviting representatives from Russia, Ukraine, and Syria to join the session with G7 leaders. Additionally, the invitation mentioned Denmark as a participant in discussions related to the Greenland situation.
Japan’s NIKKEI declined by 0.38% to 52,787.94. Australia’s ASX 200 fell by 0.31% to 8,788.80, while South Korea’s KOSPI rose by 0.34% to 4,902.59.
As for stocks in China, Shanghai’s SSEC edged up by 0.10% to 4,117.66. Shenzhen’s SZI grew by 0.58% to 14,237.68, while Hong Kong’s HSI slid by 0.02% to 26,481.54.
The U.S. stock markets edged down on Tuesday as the Dow Jones Industrial Average (DJIA) dropped by 1.76% to 48,488.59. NASDAQ slumped by 2.39% to 22,954.32, and S&P 500 lost 2.06% to 6,796.86. VIX soared by 6.63% to 20.09.
As for commodities, oil prices settled higher on Tuesday following a planned production halt at oil fields in Kazakhstan and forecasts of stronger global economic growth, raising the outlook for energy demand. Market participants also tracked developments related to President Donald Trump’s warning of potential tariffs targeting European nations. Brent crude finished the session up 98 cents, or 1.53%, at $64.92 per barrel. February’s U.S. West Texas Intermediate contract, expiring today, climbed 90 cents, or 1.51%, to close at $60.34.
This morning, Brent crude futures decreased 76 cents, or 1.17%, to $64.16 per barrel, and the WTI contracts for March dipped 61 cents, or 1.01%, to $59.75 per barrel.
Meanwhile, gold futures advanced by 1.59% to $4,841.40 per Troy ounce.
