Asia-Pacific markets extended losses on Friday, following Wall Street’s sell-off as investor concerns over United States President Donald Trump’s tariff policies persisted.
Australia’s S&P/ASX 200 dropped 1.3%, Japan’s Nikkei 225 declined 2%, and South Korea’s Kospi fell 1.2%.
Investor focus in Asia turned to China's trade balance data, as the country's surplus widened to US$170.51 billion in February, exceeding the expected $142.4 billion and up from $104.84 billion previously.
Exports grew 2.3% year-on-year, below the 5.0% forecast and down from 10.7% in the prior month, while imports contracted by 8.4%, missing an expected 1% growth.
In the U.S., all three major benchmarks closed lower overnight. The Nasdaq Composite tumbled 2.6%, officially entering correction territory - defined as a decline of 10% from a recent high.
Commodity markets were mixed. Brent crude edged up 0.2% to US$69.46 per barrel after hitting a fresh four-year low on Wednesday, while spot gold prices dipped 0.2% to $2,911.1 per ounce.
Chinese equities advanced, with the Shanghai Composite up 1.2% to 3,381.1, while the CSI 300 climbed 1.4% to 3,956.2. Hong Kong’s Hang Seng Index surged 3.3% to 24,369.7, and India’s BSE Sensex rose 0.8% to 74,340.1.
Meanwhile, European markets were mixed following the European Central Bank’s decision to cut interest rates by 25 basis points. The FTSE 100 fell 0.8% to 8,682.8, while Germany’s DAX added 1.5% to 23,419.5, and France’s CAC 40 gained 0.3% to 8,197.7.
