Asia markets down as Trump tariff threats, potentially higher-for-longer U.S. rates dent sentiment
Asia-Pacific markets fell Thursday, as investors weighed U.S. President Donald Trump’s proposed tariffs on autos, chips and pharmaceutical imports as well as the Federal Reserve potentially keeping rates higher for longer.
Japan’s benchmark Nikkei 225 and broader Topix index ended the day in negative territory for the second day. The Nikkei 225 closed 1.24% lower at 38,678.04, while the broader Topix index fell 1.18% to 2,734.60.
The yen rose to a more than two-month high of 150.52 per U.S. dollar earlier in the day amid bets of more rate hikes by the Bank of Japan this year.
In South Korea, the Kospi closed down 0.65% at 2,654.06, while the small-cap Kosdaq lost 1.28% to end the day at 768.27.
Mainland China’s CSI 300 dipped 0.29% to close at 3.928.90, while Hong Kong’s Hang Seng Index fell 1.60% to 22,576.98.
Australia’s S&P/ASX 200 declined for the fourth straight day. The index closed 1.15% lower at 8,322.80.
The country’s seasonally adjusted unemployment rate rose to 4.1% in January, in line with Reuters’ estimates.
Indian stocks were also in negative territory, with the Nifty 50 down 0.15%, while the BSE Sensex index fell 0.31% as at 2.15 p.m. local time.
— Amala Balakrishner
Europe stocks open mixed
European stocks were mixed early Thursday as positive momentum that has carried the Stoxx 600 index to a run of record highs this month wanes.
The index was choppy in early deals, though 0.12% higher by 8:34 a.m. in London.
The U.K.’s FTSE 100 was down 0.29% as France’s CAC 40 rose by 0.44%.
Stoxx 600 index.
Trump says he’s considering giving 20% of DOGE savings to Americans
U.S. President Donald Trump said during his remarks at the FII Priority Summit in Miami Beach, Fla., on Wednesday that he’s thinking of sending 20% of the money saved by the Department of Government Efficiency (DOGE) to Americans.
“There’s even under consideration a new concept where we give 20% of the DOGE savings to American citizens and 20% goes to paying down debt,” Trump said during his speech at the event.
The president’s comments come just a day after Elon Musk said in a post on X that he “Will check with the President” on a proposal to send U.S. households tax refund checks from the money saved by DOGE.
— Sean Conlon
Klaviyo, IMAX among the names making moves after hours
Some stocks are making big moves in extended trading:
- Klaviyo — The software company surged almost 6% after fourth-quarter results topped Wall Street expectations. Klaviyo posted adjusted earnings of 7 cents per share on $270 million in revenue, above the 6 cents per share and $257 million in revenue that analysts surveyed by LSEG were estimating.
- IMAX — The large screen, high-resolution and surround sound movie company slid nearly 5% following weaker-than-expected fourth-quarter earnings and revenue. IMAX earned 27 cents per share on $93 million in revenue in the latest quarter, below the consensus estimate of 28 cents per share and $103 million in revenue, according to LSEG.
- BioMarin Pharmaceutical — Shares gained more than 7% on the heels of stronger-than-expected fourth-quarter earnings, when BioMarin earned 64 cents per share on $747 million in revenue, while analysts polled by FactSet had penciled in 53 cents per share on $712 million in revenue.
Read here for the full list.
— Sean Conlon
