Asian stocks struggled for direction as market participants exercised caution ahead of the upcoming tariff announcements from President Donald Trump. With anticipation building around the details of the “Liberation Day” tariffs, trading across the region remained subdued.

Cautious Trading in Asia

In early Asian trading, U.S. stock futures remained muted, indicating that investors were holding off on major trades until further clarity emerges on U.S. trade policies. Even though U.S. indices showed gains on Tuesday, particularly in technology stocks, global investors appear wary as tariff news looms.

• Japan:
  The Nikkei 225 exhibited little movement, while the TOPIX index dipped by 0.6%.

• China:
  The Shanghai Composite rose slightly by 0.2%, while the Shanghai Shenzhen CSI 300 index remained mostly unchanged.

• Hong Kong and Singapore:
  The Hang Seng Index in Hong Kong gained 0.4%, whereas the Straits Times Index in Singapore declined by 0.4%.

• Australia and India:
  Australia’s S&P/ASX rose 0.2%, alongside a similar increase in India’s Nifty 50 futures.

Awaiting Tariff Details

Market observers are keenly awaiting President Trump’s tariff announcement set for April 2 at 15:00 ET (19:00 GMT). The new tariffs, expected to be broad, will likely include a 25% levy on auto imports to be implemented immediately following the announcement. According to White House officials, these measures aim to rectify trade imbalances with various trading partners.

U.S. Treasury Secretary Scott Bessent emphasized the significant nature of these impending tariffs, prompting a wait-and-see attitude from investors.

Global Trade Dynamics and Investor Sentiment

These tariffs could significantly impact global trade dynamics, leading to investor wariness. While some U.S. markets have already seen positive performance, especially in the tech sector, the potential for more aggressive trade measures is hindering worldwide sentiment.

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