Stocks to trade mixed on Trump tariff worries

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Stocks to trade mixed on Trump tariff worries

Tourists take photos in Shinsekai with Tsutenkaku tower in sight in Osaka, Japan, on December 12, 2024. 

Kichul Shin | Nurphoto | Getty Images

Asia-Pacific markets were set to trade mixed Thursday, as investors weigh U.S. President Donald Trump’s proposed tariffs of about 25% on autos, semiconductors and pharmaceutical imports.

Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.

Australia’s S&P/ASX 200 started the day down 0.94%, declining for the fourth straight day.

The country’s seasonally adjusted unemployment rate is set to rise 4.1% in January from 4% the month before, estimates from a Reuters’ poll shows.

Japan’s benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 38,920 while its counterpart in Osaka last traded at 38,980, against the index’s last close of 39,164.61

Futures for Hong Kong’s Hang Seng index stood at 22,750, pointing to a slightly higher open compared to the HSI’s close of 22,944.24.

Overnight in the U.S., stocks continued to rise even as the Federal Reserve remained more cautious and U.S. President Donald Trump threatened more tariffs.

The S&P 500 rose 0.24%, settling at 6,144.15 and earning its second record close in a row. The index also touched a fresh all-time high during the session. The Nasdaq Composite added 0.07% to close at 20,056.25, while the Dow Jones Industrial Average advanced 71.25 points, or 0.16%, to end at 44,627.59.

— CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.

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