Asia-Pacific markets fell on Friday, with yields on long-term Japanese government bonds hitting levels not seen since the 2008 financial crisis.
The moves in Asia markets mirrored losses on Wall Street after U.S. President Donald Trump’s tariff concessions failed to calm investors.
Traders were also worried by economic data from the U.S., which raised alarm that Trump’s policies could hinder the U.S. economy. The Federal Reserve’s Beige Book and the Institute for Supply Management’s manufacturing reading both indicated fear of rising input costs because of the tariffs.
In Japan, the Nikkei 225 index let go of Thursday’s gains losing 817.76 points, or 2.2%, to 36,887.17.
In Hong Kong, the Hang Seng index dropped 138.41 points, or 0.6%, to 24,231.30.
Australian markets plunged to a six-month low.
CHINA
The CSI 300 in mainland China retreated 12.23 points, or 0.3% to 3,944.01.
Customs data showed China’s exports in the January to February period rose 2.3% in U.S. dollar terms from a year earlier, significantly undershooting expectations of a 5% increase in a Reuters poll.
That marked the slowest growth since April last year when exports increased by just 1.5% on year, according to LSEG data.
In other markets
In Taiwan, the Taiex index stepped back 139.36 points, or 0.6%, to 22,576.07.
In Singapore, the Straits Times index moved lower 2.58 points, or 0.1%, to 3,914.48
In Korea, the Kospi lost 12.68 points, or 0.5%, to 2,563.48
In New Zealand, the NZX 50 faded 29.16 points, or 0.2%, to 12,399.78.
In Australia, the ASX 200 fell 146.54 points, or 1.8%, to 7,948.17
