Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Chinese and Hong Kong stocks suffered steep losses on Monday as U.S.-China trade tensions intensified, sparking fears of a prolonged economic conflict. The Shanghai Shenzhen CSI 300 index fell nearly 6%, while the Shanghai Composite dropped 6%, both hitting their lowest levels since September 2024. Hong Kong’s Hang Seng Index plunged 8.8%, marking its worst day since February, with tech and export-driven stocks leading the decline.
The market sell-off followed fresh U.S. tariff hikes. President Donald Trump announced a new 34% tariff on Chinese goods, in addition to the existing 20% duties, and confirmed a 25% tariff on imported vehicles and auto parts effective April 9. In retaliation, Beijing imposed a 34% tariff on a broad range of U.S. imports, including agricultural products, energy resources, and tech components.
Global markets reacted sharply to the escalating tariff battle, which analysts say signals the beginning of a second, more severe trade war. "Earlier responses to fentanyl-related tariffs left room for negotiation, but this latest move shuts that window," ING analysts noted.
Hong Kong-listed tech giants took a major hit. Alibaba (HK:9988) shares sank 12%, while Baidu (HK:9888) dropped over 10%. Auto and semiconductor stocks also tumbled. BYD Co (HK:1211), Geely Automobile (HK:0175), Xpeng Inc (HK:9868), Semiconductor Manufacturing International Corp (HK:0981), and SAIC Motor (SS:600104) all saw declines ranging from 6% to 11%.
The latest round of tit-for-tat tariffs has heightened concerns over a deeper global trade slowdown, casting a shadow over the Asian markets and investor sentiment.
