Asia-Pacific markets down as Trump tariff threats dent sentiment

Asia-Pacific markets were down Thursday, as investors weigh U.S. President Donald Trump’s proposed tariffs of about 25% on autos, semiconductors and pharmaceutical imports.

Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.

Mainland China’s CSI 300 started the day 0.37% lower, while Hong Kong’s Hang Seng index fell 1.13%.

Japan’s benchmark Nikkei 225 dropped 1.19%, while the broader Topix index fell 1.06%.

In South Korea, the Kospi declined 0.53%, while the small-cap Kosdaq lost 0.17%.

Australia’s S&P/ASX 200 was down 1.39%, declining for the fourth straight day.

The country’s seasonally adjusted unemployment rate rose to 4.1% in January, in line with Reuters’ estimates.

Overnight in the U.S., stocks continued to rise even as the Federal Reserve remained more cautious and U.S. President Donald Trump threatened more tariffs.

The S&P 500 rose 0.24%, settling at 6,144.15 and earning its second record close in a row. The index also touched a fresh all-time high during the session. The Nasdaq Composite added 0.07% to close at 20,056.25, while the Dow Jones Industrial Average advanced 71.25 points, or 0.16%, to end at 44,627.59.

— CNBC’s Brian Evans and Pia Singh contributed to this report.