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Asian markets open: Nikkei rises 0.31%, Sensex opens 65 points down

by July 8, 2025
by July 8, 2025

Asian stock markets swung between gains and losses at Tuesday’s open, as investors worked to assess a fresh wave of tariff threats from U.S. President Donald Trump, targeting 14 US trading partners.

While some regional bourses, like Japan’s Nikkei, managed to edge higher, the new tariffs weighed on broader sentiment and pointed to a lower start for Indian benchmarks like the Sensex.

The latest trade development came via a series of letters posted by President Trump on his Truth Social platform.

According to these letters, goods exported to the US from several key Asian nations, including Japan, South Korea, Malaysia, and others like Kazakhstan and Tunisia, are now set to face 25% tariffs starting on August 1.

The tariff rates varied for other Asia-Pacific markets. Indonesia will be hit with a 32% excise duty, Bangladesh was slapped with a 35% duty, and both Cambodia and Thailand are set for 36% tariff rates.

Imports from Laos and Myanmar will face an even steeper 40% duty, according to the president’s letters.

This fresh wave of protectionist measures sent a chill through markets, causing all three key benchmarks on Wall Street to suffer their worst day since mid-June in the previous session.

Overnight in the US, the Dow Jones Industrial Average tumbled 422.17 points, or 0.94%, to end at 44,406.36.

The S&P 500 fell 0.79% to 6,229.98, and the Nasdaq Composite lost 0.92% to settle at 20,412.52. US stock futures continued to fall in early Asian hours.

A divergent picture across Asia: some rise, some fall

Despite the tariff news, the reaction across Asian markets was not uniform. 

Japan’s Nikkei 225 benchmark managed to add 0.31%, while the broader Topix index ticked up 0.14%.

In South Korea, the Kospi index also showed resilience, increasing by 1.11%, with the small-cap Kosdaq moving up 0.22%. 

Mainland China’s CSI 300 index added 0.28%, and Hong Kong’s Hang Seng Index increased by 1.01%.

However, other markets felt the pressure. 

Taiwanese stocks fell, with the benchmark Taiex index down 1.04% to 22,196.37 as of 10:15 a.m. local time, after hitting its lowest level in two weeks earlier in the session.

The weakness was led by the energy, industrials, and healthcare sectors, according to data from LSEG. Shares of tech giants Taiwan Semiconductor Manufacturing Co and Hon Hai Precision Industry (Foxconn) were last seen trading 1.39% and 1.24% lower, respectively.

Over in Australia, the S&P/ASX 200 benchmark was flat as investors awaited the Reserve Bank of Australia’s monetary policy announcement.

The central bank is widely expected to cut interest rates by 25 basis points to 3.6% when its two-day policy meeting concludes later today.

Singapore hits all-time high; Sensex opens lower

In a standout performance, Singapore’s 30-stock benchmark Straits Times Index extended its winning run to a second day, hitting a fresh all-time high.

The index was up 0.46% at 4,050 as of 11:20 a.m. local time, with gains led by the technology, industrials, and utilities sectors.

Best-performing stocks included Yangzijiang Shipbuilding, which rose 2.74%, while Singapore Exchange and Singapore Telecommunications were both up nearly 2%.

Meanwhile, Indian benchmark indices started the day on a weaker note. The BSE Sensex opened 65 points lower, and the Nifty slipped below the 25,500 mark.

One of the few bright spots in an otherwise subdued Indian market was Kotak Bank, which was up 3% in early trade.

The post Asian markets open: Nikkei rises 0.31%, Sensex opens 65 points down appeared first on Invezz

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