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Asian shares trade mixed amid investor
worries after Wall Street tumble
[April 22, 2025]
By YURI KAGEYAMA
TOKYO (AP)
— Asian shares were trading mixed Tuesday amid global skepticism about
U.S. investments and President Donald Trump’s trade war.
Trading was cautious in Asia, where the benchmark Nikkei 225 lost 0.2%
in afternoon trading to 34,224.33. Australia's S&P/ASX 200 was virtually
unchanged, inching down less than 0.1% to 7,816.70. South Korea's Kospi
lost 0.2% to 2,483.60. Hong Kong's Hang Seng added nearly 0.6% to
21,513.91, while the Shanghai Composite added 0.4% to 3,303.32. |
A currency trader watches monitors near a screen showing the Korea
Composite Stock Price Index (KOSPI) at the foreign exchange dealing room
of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, April
22, 2025. (AP Photo/Ahn Young-joon) |
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Trump's tariffs and the retaliatory measures from China hang as
a shadow over the region.
"Across Asia, there is undoubtedly a sense of urgency to get to
the negotiation table even as striking a deal at an appropriate
cost can be tough," said Tan Boon Heng, at Mizuho Bank's Asia &
Oceania Treasury Department.
“China’s warning to countries not to resolve U.S. tariffs by
striking deals at the expense of Beijing’s interests reveals the
geo-economic polarization.”
On Wall Street the previous day, the S&P 500 sank 2.4% in
another wipeout. That yanked the index that’s at the center of
many 401(k) accounts 16% below a record set two months ago.
The Dow Jones Industrial Average dropped 971 points, or 2.5%,
while losses for Tesla and Nvidia helped drag the Nasdaq
composite down 2.6%.
U.S. government bonds and the value of the U.S. dollar also sank
as prices retreated across U.S. markets. That's an unusual and
worrying move because Treasurys and the dollar have historically
strengthened during episodes of nervousness.
This time around, though, it’s policies directly from Washington
that are causing the fear and potentially weakening their
reputations as some of the world’s safest investments.
In energy trading, benchmark U.S. crude gained 45 cents to
$63.53 a barrel. Brent crude, the international standard, rose
45 cents to $66.71 a barrel.
In currency trading, the U.S. dollar edged down to 140.31
Japanese yen from 140.80 yen. The euro cost $1.1508, down from
$1.1514.
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