Asian stock markets declined on Wednesday, April 9, 2025, following Wall Street's downturn, driven by escalating trade tensions between the U.S. and China. Japan's Nikkei 225 Index fell 3.26% to 31,936.59, with technology and financial stocks taking the biggest hit. Australia's S&P/ASX 200 also decreased by 1.06% to 7,395.70.
The market's reaction is attributed to concerns over newly implemented tariffs between the U.S. and China, sparking fears of a potential global economic recession. The U.S. imposed tariffs, including a 104% levy on Chinese imports. China has warned of countermeasures.
Across Asia, markets in Hong Kong, Singapore, Malaysia, and Taiwan also experienced declines, while Indonesia saw a slight increase. In Australia, major miners such as BHP Group and Rio Tinto faced losses. The Japanese market saw SoftBank Group slipping almost 6 percent.
The situation remains volatile, and further market reactions are anticipated as the trade dispute progresses.