On Monday morning (23 February, 9:29 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific increased amid renewed uncertainty over U.S. trade policy, which unsettled global markets.
After the Supreme Court on Friday overturned the Trump administration’s broad reciprocal tariffs, the U.S. president responded immediately by introducing a new 10% global tariff and pledged to continue employing alternative executive authorities to sustain his approach. The following day, he confirmed plans to boost that tariff to 15%.
Meanwhile, markets in Japan and mainland China were closed for a holiday.
South Korea’s KOSPI rose by 0.64% to 5,845.87. Hong Kong’s HSI jumped by 2.37% to 27,038.69, while Australia’s ASX 200 declined by 0.52% to 9,034.00.
The U.S. stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) surged by 0.47% to 49,625.97. NASDAQ gained 0.90% to 22,886.06, and S&P 500 escalated by 0.69% to 6,909.51. VIX slumped by 5.64% to 19.09.
As for commodities, oil prices traded relatively flat on Friday, reflecting market concerns over possible U.S. military measures as Trump increased pressure on Iran to stop its nuclear weapons program. Brent crude futures finished at $71.76 per barrel, representing a gain of 10 cents or 0.14%. In contrast, U.S. benchmark West Texas Intermediate crude slipped by 4 cents, ending at $66.39 a barrel, down 0.06%.
The prices dropped on Monday as renewed nuclear negotiations between the two countries reduced fears of an imminent conflict. However, sentiment remained cautious following President Trump’s implementation of additional tariffs, which contributed to uncertainty about global economic growth and future demand for energy. Brent crude futures fell 54 cents, or 0.75%, to $71.22 per barrel, and the WTI lost 52 cents, or 0.78%, to $65.96 per barrel.
Meanwhile, gold futures advanced by 2.04% to $5,184.30 per Troy ounce.
