Asian Stocks Remain Steady Following Another Positive Week on Wall Street

Asian stocks faced a mixed day on Monday as Wall Street wrapped up another successful week. U.S. futures showed a mixed trend, while oil prices experienced a decline. The market sentiment was impacted by weak Chinese lending data and the U.S. government’s plan to increase tariffs on a range of Chinese exports.

In Japan, the Nikkei 225 index dropped by 0.4%, with the country eagerly awaiting the release of its first-quarter economic growth figures later in the week. On the other hand, Hong Kong’s Hang Seng index saw a 0.5% increase, driven by the buying of technology shares. However, the Shanghai Composite index in China edged 0.1% lower due to rising inflation data and a decline in the producer price index.

Reports of the Biden administration considering raising tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China added to the market uncertainty. This news led to a sell-off of some automakers, with Chinese EV maker BYD’s stock dropping by 0.6% and NIO slumping by 2%.

Overall, South Korea’s Kospi fell by 0.5%, Australia’s S&P/ASX 200 lost 0.3%, Taiwan’s Taiex gained 0.6%, and India’s Sensex fell by 0.9%. The global market remains volatile as investors closely monitor developments in the ongoing trade tensions between the U.S. and China.