Asia markets dip after Trump tariff hike

MG News | August 01, 2025 at 09:30 AM GMT+05:00
August 01, 2025 (MLN): Asia-Pacific markets fell Friday after U.S. President Donald
Trump modified “reciprocal” tariff rates on several countries, ranging from 10%
to 41%.
Tech giants across the region bore the brunt of the selloff
as investors digested fresh duties and the latest Big Tech earnings from Wall
Street overnight.
In Japan, Tokyo Electron plunged 17% as of 11 a.m. Singapore time (11 p.m. ET Thursday), leading losses among the country's tech names.
Lasertec dropped 4.67%, Advantest Corp declined 2.51%, and
SoftBank Group slipped 2.07%. However, Renesas Electronics was
last seen up 0.7%.
Over in South Korea, SK Hynix tumbled 5.12%, while Samsung
Electronics shed 1.92%, as CNBC reported.
In Taiwan, TSMC fell by 1.72%, while Hon Hai
Precision Industry globally known as Foxconn edged up by 1.12%.
In Hong Kong, the tech-heavy Hang Seng Tech Index was
down 0.23% in choppy trade.
Among the worst performers were China Petroleum &
Chemical Corp, which dropped 5%, Zhongsheng Group Holdings, down
3.02%, and Li Auto, which declined by 2.6%, according to LSEG data.
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