Stock market today: Asian markets make modest advance after a slow day
on Wall Street
[March 26, 2025] By
ELAINE KURTENBACH
BANGKOK (AP) — Asian markets advanced on Wednesday after a quiet session
on Wall Street as buying slowed after a broad rally the day before,
fueled by hopes that President Donald Trump’s tariffs may not be as
sweeping as earlier feared.
Hong Kong's Hang Seng rose 0.3% higher to 23,403.40, while the Shanghai
Composite index slipped less than 0.1%, to 3,367.98.
Tokyo's Nikkei 225 index added 0.7% to 38,027.29.
The Kospi in Seoul was up 1.1% at 2,643.94. In Australia, the S&P/ASX
200 gained 0.7% to 7,999.00.
On Tuesday, the S&P 500 added 0.2% to 5,776.65 after jumping 1.8% Monday
to one of its best days of the last year. The Dow Jones Industrial
Average inched up by 4 points, or less than 0.1%, to 42,587.50. The
Nasdaq composite rose 0.5% to 18,271.86.
U.S. stocks have recovered a chunk of their losses since falling 10%
below their all-time high earlier this month, for their first
“correction” since 2023. The S&P 500 is now down 6% from its record, and
that drop has left the market looking less expensive than before, which
had been a major criticism following its euphoric rise in earlier years.
But strategists along Wall Street warn that more sharp swings are still
likely on the way with an April 2 deadline looming. That’s what Trump
has called “Liberation Day,” when he will begin tariffs on trading
partners that he says will roughly equal what he sees as the burden each
of them puts on the United States. Monday’s spurt for Wall Street came
on hopes that Trump’s “reciprocal” tariffs may be more targeted than had
earlier been feared.
Even if Trump’s tariffs do end up being less painful for the global
economy than feared, all the dizzying talk about them has already soured
confidence among U.S. households and businesses. The fear is that could
lead them to cut back on their spending and freeze the economy.
A report on Tuesday showed that pessimism among U.S. households is only
worsening. The Conference Board’s measure of consumer confidence fell by
more than expected, mostly because of a tumble for expectations about
upcoming conditions in the short term. That dropped to its lowest level
in 12 years and is sitting “well below the threshold of 80 that usually
signals a recession ahead.”
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People walk in front of an electronic stock board showing Japan's
Nikkei index at a securities firm Wednesday, March 26, 2025, in
Tokyo. (AP Photo/Eugene Hoshiko)
 Like other recent surveys, the data
showed U.S. households are much more concerned about where the
economy is heading than where it is currently. So far, actual
economic activity and the job market seem to be holding up despite
the worsening moods of U.S. companies and consumers.
On Wall Street, Trump Media & Technology Group climbed 8.9% after
the company behind the president’s Truth Social platform said it had
reached an agreement with Crypto.com to offer a suite of
“America-First” investment funds.
The exchange-traded funds will hold bitcoin and other digital
assets, along with what TMTG called “securities with a Made in
America focus spanning diverse industries such as energy.”
Crypto.com will support the backend technology, provide custody and
supply the cryptocurrencies for the ETFs, which will operate under
TMTG’s Truth.Fi brand.
Tesla rose 3.4% after drifting between modest gains and losses
following more grim sales figures from Europe. Its stock
nevertheless remains down nearly 29% for 2025 so far.
Homebuilder KB Home dropped 5.2% after reporting weaker profit and
revenue for the latest quarter than analysts expected. Already mired
in a slump, homebuilders may face potentially rising costs due to
tariffs, which they will have to pass on to buyers. A report on
Tuesday morning said U.S. sales of new homes last month were
slightly weaker than economists expected.
In other dealings early Wednesday, U.S. benchmark crude oil gained
31 cents to $69.31 per barrel. Brent crude, the international
standard, was up 30 cents at $72.69 per barrel.
The U.S. dollar rose to 150.47 Japanese yen from 149.86 yen late
Tuesday. The euro fell to $1.0784 from $1.0790.
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