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Asian stocks fall as tariffs kick in
Asian stocks declined sharply following the implementation of the new American tariffs on imports from 60 countries, raising concerns about a worsening global trade environment. The Japanese Nikkei index dropped by 3.2%, the Korean KOSPI by 5.8%, while the Hang Seng and CSI 300 indices fell around 1.3% each. The Australian index decreased by 1%. The impact of the U.S. tariffs on regional economies was evident through rates ranging between 10% and 12.5%, reflecting significant risks to growth and trade. Despite the market declines, China's CSI 300 index recorded a weekly gain of 3.2%, amid anticipation of announced economic support measures in China, while the Australian index remained within a certain range awaiting an inflation report.
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