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Asian stocks ended lower on Thursday despite softer U.S. inflation data bolstering the case for more Federal Reserve interest-rate cuts this year. <\/p>\n
Tariff worries kept investors on the edge after Canada and the EU swiftly retaliated against U.S. steel and aluminum tariffs and President Trump vowed to respond to the countermeasures. <\/p>\n
Gold moved higher near its record peak as the dollar dipped and U.S. Treasury yields turned lower on concerns over a potential recession in the United States. <\/p>\n
Oil prices eased after a surge in the previous session on data showing a larger-than-expected draw in U.S. gasoline stocks.<\/p>\n
China’s Shanghai Composite index dropped 0.39 percent to 3,358.73 on trade worries and signs of deepening deflationary pressures in the country. Hong Kong’s Hang Seng fell 0.58 percent to 23,462.65.<\/p>\n
China’s Commerce Ministry reportedly held talks with Walmart after reports emerged that it asked suppliers to bear rising costs incurred by increased US tariffs.<\/p>\n
Japanese markets<\/span> ended little changed while the yen strengthened as comments from Bank of Japan chief bolstered rate hike expectations. <\/p>\n The Nikkei average finished marginally lower at 36,790.03 while the broader Topix index settled 0.13 percent higher at 2,698.36.<\/p>\n Seoul stocks ended on a flat note, with the Kospi average finishing marginally lower at 2,573.64 following strong gains in the previous session. <\/p>\n The Bank of Korea said in a monetary policy report that Trump’s escalating trade war could drag on longer than expected and increase the risk of capital outflows while also raising volatility in the dollar-won exchange rate. <\/p>\n LG Energy Solution, Samsung Biologics and LG Chem fell 2-3 percent while defense equipment manufacturer Hanwha Aerospace jumped 6.3 percent and shipbuilding giant Hanwha Ocean rallied 3.5 percent. <\/p>\n Australian markets ended lower, giving up early gains as Morgan Stanley cut its rating for Australian equities and said it expects Australian companies to underperform compared to global markets.<\/p>\n The benchmark S&P\/ASX 200 dropped 0.48 percent to 7,749.10, with financials and mining stocks leading losses. The broader All Ordinaries index settled 0.45 percent lower at 7,966.60.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index slipped 0.33 percent to close at 12,209.05.<\/p>\n U.S. stocks ended mostly higher overnight as consumer inflation came in lower than forecast by economists.<\/p>\n Data showed that CPI rose 2.8 percent annually in the month, down from 3.0 per cent in January and below the 2.9 percent forecast from economists.<\/p>\n The core CPI, which excludes volatile food and energy prices, rose 3.1 percent on an annual basis, following the 3.3 percent increase in January.<\/p>\n White House Press Secretary Karoline Leavitt said the report showed “the economy<\/span> is moving in the right direction under President Trump.”<\/p>\n The tech-heavy Nasdaq Composite rallied 1.2 percent to rebound from six-month lows hit in the previous session.<\/p>\n The S&P 500 rose half a percent to snap a two-day losing streak while the narrowed Dow dipped 0.2 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n