China Tariffs In Question – Asia Market Wrap

Asian stocks snapped a five-day winning streak as a brief global relief rally gave up momentum after mixed signals from the Trump administration on its plans for China tariffs.

A regional gauge of stocks fell 0.3% as market enthusiasm got curbed after Treasury Secretary Scott Bessent cast doubt on a timely resolution to the US-China trade war. Shares in Hong Kong dropped 1.2%, the first time in four days, while equity-index futures for the US and Europe declined. The yen flipped after two days of losses and the dollar weakened. Gold jumped 1.2% in increased demand for the safe- haven asset.

The global rally in stocks on Wednesday – after wild gyrations earlier this month – came on signs US President Donald Trump is rethinking the most-aggressive elements of his stances on trade and the Federal Reserve. Still, investors find it hard to forecast where the markets are headed amid a slew of headlines from various officials in the administration and frequent back-and-forth by Trump on his tariffs.