On Tuesday morning (24 February, 9:33 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific exhibited an upward trend, breaking ranks with Wall Street, with market sentiment shaken by U.S. President Donald Trump’s renewed tariff threats and escalating concerns over how artificial intelligence may affect the software sector.
Investor attention turned to the United States after President Trump stated that countries challenging the recent Supreme Court ruling on tariffs could face steeper trade barriers. His remarks on Truth Social followed plans for a 15% global tariff under the 1974 Trade Act’s Section 122, after a high court decision last Friday that invalidated prior tariffs enacted through the International Emergency Economic Powers Act (IEEPA).
In mainland China, trading resumed after the Lunar New Year hiatus. Focus is on the latest policy move from China’s central bank, which maintained its one-year and five-year loan prime rates at 3% and 3.5%, respectively. These benchmarks serve as reference points for corporate borrowing and property loans.
Meanwhile, cybersecurity names on Wall Street extended losses for a second straight session, as investors reacted to warnings that artificial intelligence security tools could undermine established business strategies in the sector.
Nervousness regarding possible AI-related disruption prompted selling that also affected U.S. insurance brokers, private credit firms, real estate service providers, and other software-linked stocks. Despite robust earnings among large technology firms, doubts remain over how soon significant investments in AI will generate tangible returns.
Japan’s NIKKEI rose by 0.48% to 57,100.83. South Korea’s KOSPI grew by 1.35% to 5,925.15, while Australia’s ASX 200 dropped by 0.31% to 8,998.10.
As for stocks in China, Shanghai’s SSEC increased by 0.97% to 4,121.59. Shenzhen’s SZI jumped by 1.52% to 14,313.87, while Hong Kong’s HSI slumped by 1.68% to 26,627.72.
The U.S. stock markets edged down on Monday as the Dow Jones Industrial Average (DJIA) lost 1.66% to 48,804.06. NASDAQ declined by 1.13% to 22,627.27, and S&P 500 plummeted by 1.04% to 6,837.75. VIX surged by 10.06% to 21.01.
As for commodities, oil prices settled lower on Monday as traders weighed the possible outcomes of an upcoming round of nuclear discussions between the United States and Iran, alongside mounting uncertainty stemming from recent shifts in U.S. trade policy. Brent crude contracts closed with a decline of 27 cents, or 0.38%, ending the session at $71.49 per barrel. Meanwhile, U.S. West Texas Intermediate crude settled 17 cents lower, or down 0.26%, at $66.31 per barrel.
This morning, Brent crude futures advanced 29 cents, or 0.41%, to $71.78 per barrel, and the WTI gained 28 cents, or 0.42%, to $66.59 per barrel.
Meanwhile, gold futures shrank by 0.70% to $5,189.20 per Troy ounce.
