BENGALURU: Emerging Asian stock markets were mixed on Wednesday and currencies were on the defensive, as nervous investors awaited US President Donald Trump’s new reciprocal tariffs on trading partners that may intensify global trade tensions and hit economic growth.
Equities in Singapore and South Korea fell 0.3% and 0.6%, respectively. Philippine shares advanced 1.1% and Malaysia stocks gained 0.6%.
Investor focus has been on the US tariffs, set to be unveiled at 2000 GMT on Wednesday, dubbed “Liberation Day” by Trump.
Trump previously said that nearly all countries would face duties, which are expected to take effect immediately after the announcement.
Stocks in Shanghai were up 0.1% and the yuan , which fell to a one-month low earlier in the session, was last flat at 7.270 per dollar.
The baht was last marginally lower at 34.190 per dollar.
The Indian rupee weakened 0.1% and the Malaysian ringgit lost 0.3%.
Other regional currencies, including Singaporean dollar
and Philippine peso, were largely flat.
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