Berliner Boersenzeitung - Asian markets reverse as appeals court gives Trump tariffs reprieve

EUR -
AED 4.199289
AFN 79.806473
ALL 98.032519
AMD 437.645174
ANG 2.046237
AOA 1048.456304
ARS 1355.154818
AUD 1.753261
AWG 2.058038
AZN 1.942991
BAM 1.956449
BBD 2.307265
BDT 139.646323
BGN 1.957124
BHD 0.431111
BIF 3402.028506
BMD 1.143354
BND 1.469788
BOB 7.896619
BRL 6.359795
BSD 1.142679
BTN 97.811446
BWP 15.267064
BYN 3.739741
BYR 22409.743663
BZD 2.295361
CAD 1.565452
CDF 3289.430092
CHF 0.938662
CLF 0.027905
CLP 1070.853538
CNY 8.210087
CNH 8.215561
COP 4732.983596
CRC 580.892691
CUC 1.143354
CUP 30.298888
CVE 110.301589
CZK 24.770544
DJF 203.48839
DKK 7.459174
DOP 67.562412
DZD 150.293218
EGP 56.638283
ERN 17.150314
ETB 156.463902
FJD 2.565914
FKP 0.842966
GBP 0.846397
GEL 3.127054
GGP 0.842966
GHS 11.712885
GIP 0.842966
GMD 81.809396
GNF 9904.285407
GTQ 8.781913
GYD 239.790591
HKD 8.973753
HNL 29.81489
HRK 7.535165
HTG 149.869714
HUF 400.912558
IDR 18597.34319
ILS 3.998253
IMP 0.842966
INR 97.827662
IQD 1496.996577
IRR 48135.214571
ISK 143.788562
JEP 0.842966
JMD 182.620578
JOD 0.810599
JPY 165.247278
KES 147.676057
KGS 99.986227
KHR 4586.521421
KMF 492.21614
KPW 1029.048524
KRW 1561.684653
KWD 0.350083
KYD 0.952316
KZT 580.782655
LAK 24670.183487
LBP 102388.563892
LKR 341.793378
LRD 227.975623
LSL 20.266723
LTL 3.376028
LVL 0.691604
LYD 6.244071
MAD 10.466272
MDL 19.706537
MGA 5090.688661
MKD 61.560805
MMK 2400.380009
MNT 4090.136924
MOP 9.238465
MRU 45.170984
MUR 52.43454
MVR 17.613418
MWK 1981.45728
MXN 21.76232
MYR 4.842677
MZN 73.117139
NAD 20.266723
NGN 1768.631586
NIO 42.05395
NOK 11.506723
NPR 156.497913
NZD 1.888695
OMR 0.439627
PAB 1.142679
PEN 4.152077
PGK 4.769582
PHP 63.827755
PKR 322.392443
PLN 4.253627
PYG 9115.023596
QAR 4.167182
RON 5.034764
RSD 117.158653
RUB 89.896276
RWF 1648.946982
SAR 4.288428
SBD 9.551998
SCR 16.781036
SDG 686.58946
SEK 10.945925
SGD 1.470022
SHP 0.898497
SLE 25.554198
SLL 23975.567578
SOS 653.116649
SRD 42.558505
STD 23665.124936
SVC 9.999317
SYP 14865.751053
SZL 20.249717
THB 37.312795
TJS 11.398681
TMT 4.013173
TND 3.40803
TOP 2.677849
TRY 44.850421
TTD 7.753572
TWD 34.233187
TZS 2989.871594
UAH 47.466145
UGX 4123.367786
USD 1.143354
UYU 47.475748
UZS 14526.818774
VES 113.155331
VND 29741.50291
VUV 137.339149
WST 3.147095
XAF 656.174663
XAG 0.031164
XAU 0.000343
XCD 3.089972
XDR 0.817949
XOF 656.174663
XPF 119.331742
YER 278.20669
ZAR 20.203869
ZMK 10291.560133
ZMW 28.659507
ZWL 368.159608
  • CMSC

    0.0700

    22.27

    +0.31%

  • SCS

    0.3050

    10.875

    +2.8%

  • RYCEF

    -0.0600

    12

    -0.5%

  • AZN

    0.6600

    73.67

    +0.9%

  • BTI

    -0.2750

    47.6

    -0.58%

  • GSK

    0.2450

    41.11

    +0.6%

  • RIO

    -0.0200

    59.27

    -0.03%

  • BCC

    1.9400

    90.5

    +2.14%

  • BCE

    0.6150

    22.715

    +2.71%

  • CMSD

    0.0400

    22.27

    +0.18%

  • NGG

    0.0250

    71.14

    +0.04%

  • VOD

    -0.0500

    9.86

    -0.51%

  • RBGPF

    0.0000

    69.04

    0%

  • RELX

    0.0000

    53.03

    0%

  • JRI

    0.0100

    13.105

    +0.08%

  • BP

    0.7250

    30.18

    +2.4%

Asian markets reverse as appeals court gives Trump tariffs reprieve
Asian markets reverse as appeals court gives Trump tariffs reprieve / Photo: Andrew Harnik - GETTY IMAGES NORTH AMERICA/AFP

Asian markets reverse as appeals court gives Trump tariffs reprieve

Asian shares fell Friday after a US appeal court gave Donald Trump's sweeping tariffs a temporary reprieve, fanning uncertainty a day after judges had ruled the controversial measures were unconstitutional.

Text size:

The losses reversed a rally across world markets the previous day as analysts warned that the legal wrangling could compound volatility and throw trade talks between Washington and other governments.

While the tariffs have been stalled and are set to go through the courts -- and possibly end up at the Supreme Court -- there are expectations that the US president will find other means to implement them.

The US Court of International Trade's ruling on Wednesday barred most of the tariffs announced since Trump took office, ruling that he had overstepped his authority -- a decision he labelled "horrible" and should be "quickly and decisively" reversed for good.

"Backroom 'hustlers' must not be allowed to destroy our Nation!" he wrote on his Truth Social platform.

A separate ruling by a federal district judge in Washington, DC also found some levies unlawful as well, giving the administration 14 days to appeal.

Observers said the latest developments have led to speculation about trade negotiations, including those between the United States and European Union, and a deal it has already struck with Britain.

But Kevin Hassett, director of the National Economic Council, told Fox Business that "hiccups" sparked by the decisions of "activist judges" would not affect negotiations and that three agreements were close to finalisation.

National Australia Bank's Rodrigo Catril said after the appeal court decision that "Trump’s trade agenda remains alive and kicking with the legal battle adding yet another layer of uncertainty".

He added that the judges could still rule against the White House.

"But it is probably worth emphasising that the president has other avenues to impose tariffs, so our view here is that the court case is just another layer of uncertainty/complication but it does not derail Trump’s tariff agenda," Catril said.

"The ongoing shift in US trade policy is creating a cloud of uncertainty and now the legal battles are making the outlook even cloudier.

"The only thing that looks more certain is more uncertainty, which is set to lead to a further pullback in investment decision and hiring."

Meanwhile, US Treasury Secretary Scott Bessent told Fox News on Thursday that negotiations with China were "a bit stalled" and Trump might need to speak to President Xi Jinping, weeks after the economic superpowers agreed a detente in their trade war.

He added that "given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other".

Hong Kong and Tokyo were off more than one percent each, while Shanghai, Sydney and Seoul also sank into the red, though Wellington and Manila edged up.

The weak performance followed a tepid day on Wall Street, where all three main indexes ended just slightly higher, with sentiment also dented by data showing the US economy contracted in January-March, albeit at a slower pace than first thought.

Disappointing readings on jobless benefits and pending home sales added to the more downbeat mood, with investors also on edge over elevated bond yields and Trump's plans to ramp up the budget deficit.

On currency markets the yen strengthened after figures showed inflation in Tokyo -- a barometer for the rest of Japan -- came in above forecasts this month, ramping up expectations the country's central bank will hike interest rates in July.

- Key figures at around 0230 GMT -

Tokyo - Nikkei 225: DOWN 1.4 percent at 37,890.86 (break)

Hong Kong - Hang Seng Index: DOWN 1.4 percent at 23,243.11

Shanghai - Composite: DOWN 0.5 percent at 3,346.41

Euro/dollar: DOWN at $1.1357 from $1.1368 on Thursday

Pound/dollar: DOWN at $1.3483 from $1.3494

Dollar/yen: DOWN at 143.91 yen from 144.19 yen

Euro/pound: UP at 84.24 pence from 84.22 pence

West Texas Intermediate: DOWN 0.3 percent at $60.74 per barrel

Brent North Sea Crude: DOWN 0.3 percent at $63.97 per barrel

New York - Dow: UP 0.3 percent at 42,215.73 (close)

London - FTSE 100: DOWN 0.1 percent at 8,716.45 (close)

(A.Lehmann--BBZ)