The Day Before – Asia Market Wrap

Asian shares snapped a multi-day losing streak amid increased volatility ahead of President Donald Trump’s tariff rollout plan.

A regional gauge gained as much as 1.1% with stocks in Taiwan and South Korea rising the most. European equity-index futures rose while contracts for US slipped, showing markets remain under pressure. Gold hit a record high on demand for haven assets while the dollar strengthened marginally against most of the Group-of-10 currencies.

Traders got further details on when Trump will announce his reciprocal tariff plan, 3pm on Wednesday at an event in the White House Rose Garden, but the extent of his levies remain unclear. Ahead of the upcoming announcement, investors have refrained from taking large positions amid concerns how the tariffs will impact economic growth and inflation in the world’s largest economy.

Global markets are set for more volatility after US shares notched their worst quarter compared to the rest of the world since 2009. It was the first time since the onset of the pandemic in March 2020 that bonds rose and stocks fell in a three-month period. The dollar, long a go-to hiding place during market selloffs, suffered the worst start to a year since 2017.