Most Asian stocks fell on Friday, extending recent losses as investors remained on edge over U.S. President Donald Trump’s tariff agenda, News.Az reports citing Investing.
Japanese markets were by far the worst performers in the region, especially as hotter-than-expected inflation data from Tokyo ramped up bets on an early rate hike by the Bank of Japan.
Automobile and technology sectors clocked the biggest losses, with auto stocks still reeling from Trump’s announcement of 25% tariffs on the sector. Tech was dented by persistent losses in chipmakers, amid growing concerns of oversupply in the artificial intelligence data center industry.
Regional markets took a weak lead-in from Wall Street, which fell for a second straight session on concerns over Trump’s tariffs. The U.S. The President is set to impose even more duties on April 2.
U.S. stock index futures were muted in Asian trade, with focus turning to upcoming data for more cues on U.S. inflation.
Japanese stocks slide on hot CPI
Japan’s and indexes were the worst performers in Asia on Friday, losing more than 2% each.
Losses in the two were driven chiefly by concerns over higher interest rates in the country, after inflation data read higher than expected for March, remaining above the BOJ’s 2% annual target.
This saw analysts begin factoring in a greater chance that the BOJ could raise rates by as soon as May, as it moves to curb inflationary pressures and wean the economy off monetary support.
News.Az
AloJapan.com