Asian markets displayed yet another session of subdued performance as US President Donald Trump’s tariff threat is keeping investors wary of taking any major risks.
Most of the markets in the region traded mixed on Friday with minute recoveries from previous losses.
US President Donald Trump has indicated that he will soon start drafting letters to various nations informing them about the new tariffs, which can come into effect after the July 9 deadline.
The remarks came as Donald Trump finalized and signed a trade deal with Vietnam this week and is reportedly very close to signing a new one with India.
The developments came amid a major success for Donald Trump’s presidency as the House of Representatives gave a green signal to his ‘big beautiful bill’ and that too ahead of the July 4 celebrations.
Asian markets: Nikkei 225 up 0.09%
Japan stocks were up on Friday with real estate, banking, and textile leading the market.
The Tokyo Nikkei 225 ended up 0.09%. Dainippon Screen was the best among the lot and it gained 3.26% recording 380 points jump taking it to close the session at 12,045.
Hong Kong’s Hang Seng Index fell 153.88 points or 0.64% to close at 23,916.06 whereas the Hang Seng China Enterprises Index fell 39.17 points or 0.45% to close at 8,609.27.
The slip came after S&P Global said that new orders and outputs contracted more in June than in May, and this was the fifth consecutive month of contraction.
KOSPI snaps five-week rally
South Korean shares fell 2% on Friday and closed the week down, taking profits after an optimism-induced five-week rally on hopeful expectations about post-election policy.
The main KOSPI index went down by 61.99 points, or 1.99% to 3,054.28, dropping 0.05% during the week.
China’s CSI 300 continued its marginal gains on Friday as investors seemed a bit relaxed after the US eased export restrictions on chip exports. The index closed 0.36% up at 3,982.20.
Australia’s S&P/ASX 200 kept the muted momentum as it closed flat for the third consecutive day at 8,603.00.
Sensex, Nifty close in green
The Indian equity benchmarks ended the July 4 session in the profit zone following a turbulent trade with the Nifty index trading close to 25,450.
At the closing bell, the Sensex gained 228 points and was trading at 83,467.77, 0.27% up from its previous close while Nifty 50 gained 0.24% during the day to close at 25,467.10.
The other sectoral indices ended in the green except auto, telecom, and metal. Key gainers were Bajaj Finance Dr. Reddy’s Labs, ICICI Bank, and Wipro, and among the main losers were Trent, Eicher Motors, Tech Mahindra, and Maruti Suzuki.
The investors in India are sitting tight as some tough negotiations are underway in Washington over the India-US trade deal and a precursor to that is expected to be announced over the weekend.
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