MARKET UPDATE

Asia-Pacific Stocks Trade Mixed After Wall Street Slumps On Trump's New Auto Tariffs

Asia-Pacific stocks traded mixed on Thursday, tracking losses on Wall Street as investors weighed U.S. President Donald Trump's 25 percent tariffs on auto imports.

Japan's benchmark Nikkei 225 index ended the day 0.6 percent lower at 37,799.97, while the broader Topix index was flat at 2,815.47.

In South Korea, the Kospi index fell 1.39 percent to 2,607.15 while the small-cap Kosdaq index dropped 1.25 percent to 707.49.

Mainland China's CSI 300 index ended the day 0.33 percent higher at 3,932.42 while Hong Kong's Hang Seng Index closed up 0.41 percent at 23,578.80.

India's benchmark Nifty 50 index was trading 0.52% higher while the broader BSE Sensex was up 0.49% at 1:50 p.m. ET.

Australia's S&P/ASX 200 ended 0.38% lower at 7,969.

U.S. futures edged lower after all three major Wall Street indexes posted losses overnight.

The S&P 500 fell 1.12% to end at 5,712.20, while the Dow Jones Industrial Average dropped 132.71 points, or 0.31%, to close at 42,454.79. The tech-heavy Nasdaq Composite dropped 2.04% to close at 17,899.01, as Nvidia shares fell nearly 6%.

Big tech names like Meta Platforms and Amazon fell more than 2%, while Alphabet dropped more than 3%. Tesla down more than 5%.(Newsmaker23)

Source: CNBC

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