Market Commentary - Foreign Markets
Asian stocks ended mixed on Tuesday as investors awaited greater clarity on the next round of tariffs from U.S. President Donald Trump.
Trump said there will be flexibility on his reciprocal tariff plan but announced that the United States will soon implement new tariffs on a range of products, including cars, aluminum, and steel - adding to investor anxiety in the face of global conflicts and economic instability.
The dollar index was at a three-week high and gold edged up slightly while oil held an overnight gain as Trump threatened to impose 25 per cent secondary tariffs on countries importing Venezuelan oil, including India and China, starting 2 April.
China's Shanghai Composite index finished marginally lower at 3,369.98 after a choppy session on concerns over the effectiveness of China's stimulus measures in offsetting new U.S. tariffs.
The People's Bank of China said on Monday that it would allow qualified banks to pay different interest rates for the loans, known as the medium-term lending facility (MLF), signaling a greater willingness to ease monetary policy.
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