From Financial Modeling Prep: 2025-03-04 05:54:11

Asian markets plunged as trade tensions escalated, with Trump imposing tariffs on Mexico, Canada, and China. Japan’s Nikkei 225 dropped 1.9%, Hong Kong’s Hang Seng fell 1.4%, and Indonesia’s Jakarta Composite Index lost 1.1%. China vowed countermeasures, warning of potential impact on corporate earnings and manufacturing activity in Asia.

Australia’s economic data showed a 0.3% growth in retail sales in January, rebounding from a decline in December. The RBA cut rates to 4.10% due to slow wage growth and easing inflation, with cautious outlook on further adjustments. S&P/ASX 200 index fell 0.9% on the news.

China’s ‘Two Sessions’ meeting began, focusing on setting a 5% GDP growth target amid U.S. trade tensions, real estate challenges, and military spending. Investors await policy announcements for potential stimulus measures to counter economic headwinds. Market volatility expected to continue with global trade tensions rising.



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