Asia report: Most markets rise amid hopes for tariff stability

15th Apr 2025 09:30

(Sharecast News) - Asia-Pacific markets mostly advanced on Tuesday, buoyed by gains on Wall Street where a strong rally in technology stocks lifted all three major US indices overnight.

Investor sentiment in the region was also shaped by anticipation ahead of China's first-quarter GDP release, due Wednesday.

"Asian markets advanced, spearheaded by Japan, as US president Donald Trump suggested a possible halt in auto tariffs, offering additional comfort to the market following the suspension of tariffs on certain consumer electronics," said TickMill market strategy partner Patrick Munnelly.

"Markets are stabilising as the exemptions have sparked optimism for potential negotiations after the president's reciprocal tariffs this month resulted in a $10trn loss in global equities and triggered a decline in treasuries.

"Nevertheless, the inconsistencies are leaving investors anxious, and business leaders, including JPMorgan's Jamie Dimon, have cautioned that Trump's attempts to alter the global trading framework might drive the US towards a recession."

Most markets rise as investors hope for tariff stability

Japan led regional gains, with the Nikkei 225 rising 0.84% to 34,267.54 and the broader Topix climbing 1% to 2,513.35.

Strong performances in industrial and technology stocks supported the advance, with Yokogawa Electric surging 7.41%, Denso Corporation adding 5.64%, and Sumitomo Electric Industries rising 5.27%.

In mainland China, the Shanghai Composite edged up 0.15% to 3,267.66, despite the Shenzhen Component slipping 0.27% to 9,858.10.

Market gains were concentrated in specific stocks, including Jiangsu High Hope International, Guangdong Dcenti Auto-Parts, and Zhejiang Jiuzhou Pharmaceutical, all of which jumped over 10%.

Hong Kong's Hang Seng Index added 0.23% to close at 21,466.27.

Gains were led by New Oriental Education and Technology, WH Group, and Nongfu Spring, each rising more than 2%.

South Korea's Kospi 100 gained 0.83% to 2,466.90, driven by strength in the industrial and robotics sectors.

Doosan Robotics surged 8.71%, while LS Industrial Systems and Hyundai Electric Energy Systems climbed 5.22% and 4.56%, respectively.

Australia's S&P/ASX 200 advanced 0.17% to 7,761.70.

Top performers in Sydney included Omni Bridgeway, Iluka Resources, and Evolution Mining, all posting gains above 3.9%.

New Zealand bucked the regional trend, with the S&P/NZX 50 falling 0.79% to 12,011.34.

Losses were led by KMD Brands, Vista Group International, and Port of Tauranga, each declining nearly 3%.

In currency markets, the dollar was last down 0.1% on the yen, trading at JPY 142.92, as it weakened 0.35% against the Aussie to AUD 1.5747, and retreated 0.48% from the Kiwi, changing hands at NZD 1.6936.

Oil prices were marginally lower, with Brent crude futures last down 0.11% on ICE at $64.81 per barrel, and the NYMEX quote for West Texas Intermediate slipping 0.1% to $61.47.

China tells airlines to halt Boeing deliveries, wholesale inflation moderates in India

In geopolitical news, China reportedly instructed its airlines to suspend all deliveries of Boeing aircraft and to halt purchases of US-made aviation parts, according to sources cited by Bloomberg.

The move marked a sharp escalation in the ongoing trade dispute between Beijing and Washington, which had intensified following the imposition of sweeping tariffs by both sides.

The US, under president Donald Trump, recently implemented a cumulative 145% levy on Chinese imports, prompting a retaliatory 125% tariff on US goods by China.

Meanwhile, in south Asia, India reported a further decline in wholesale inflation, which eased to 2.05% year-on-year in March.

That marked the lowest level since November last year, and was slightly below the 2.5% forecast in a Reuters poll.

The moderation was largely attributed to slower price increases in food products and textiles, according to the Ministry of Commerce and Industry.

Reporting by Josh White for Sharecast.com.