This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets fell Thursday, as investors weighed U.S. President Donald Trump’s proposed tariffs on autos, chips and pharmaceutical imports as well as the Federal Reserve potentially keeping rates higher for longer.
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 meeting minutes showed the bank was concerned about U.S. President Donald Trump tariffs, and would prefer a further decline in inflation before lowering rates.
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.
Australia’s job additions in January sharply exceed market expectations
Australia added 44,000 jobs in January, far exceeding Reuters poll estimates of 20,000 additions, data released by the Australian Bureau of Statistics showed Thursday.
The seasonally adjusted jobless rate climbed 4.1%, in line with Reuters estimates, and higher than the previous month.
— Amala Balakrishner
China keeps benchmark lending rates steady as PBOC prioritizes financial stability
China kept its key lending rates unchanged Thursday, as Beijing prioritizes financial stability over interest rate easing to bolster the economy.
The People’s Bank of China held the 1-year loan prime rate unchanged at 3.1%, and the 5-year LPR at 3.6%
The benchmark lending rates — normally charged to banks’ best clients — are calculated monthly based on designated commercial banks’ proposed rates submitted to the PBOC. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
The decision on Thursday was in line with expectations Reuters poll estimates.
Read the full story here.
— Anniek Bao
JGB 10-year yields hit 15-year high, amid calls for higher rates
The yield on 10-year Japanese government bonds (JGBs) rose 0.002 percentage point to touch 1.434% — a new 15-year high.
The yield on five-year JGBs was hovering at around 1.07%.
This comes after Bank of Japan board member Hajime Takata reportedly said on Tuesday that the Japanese central bank needs to raise interest rates further as keeping them low at current levels could result in excessive risk-taking and higher inflation.
— Amala Balakrishner
South Korea’s producer price index rises 1.7% year on year in January
South Korea’s wholesale inflation rate climbed 1.7% year on year in January, same as in December.
Preliminary figures from the Bank of Korea show that gains were led by sectors such as livestock products and coal and petroleum as well as electric power, gas, water and waste.
— Amala Balakrishner
S&P 500 notches another record close
The S&P 500 earned another record-high close on Wednesday as investors shook off worry tied to inflation and U.S. trade policy.
The broad market index added 0.24% to close at 6,144.15, while the Nasdaq Composite gained 0.07% to 20,056.25. The Dow Jones Industrial Average advanced 71 points, or 0.16%, to finish the session at 44,627.59.
— Brian Evans
Palantir falls as much as 12.9%, most in more than nine months, on defense spending worries
High-flying Palantir Technologies slumped as much as 12.9% Wednesday, on pace for its largest loss since May 2024.
The move followed a Washington Post report that the Trump Administration and its Defense Secretary Pete Hegseth are ordering senior Pentagon officials “to develop plans for cutting 8% from the defense budget in each of the next five years.”
Separately, Palantir filed notice with the U.S. Securities and Exchange Commission on Tuesday that CEO Alex Karp adopted a trading plan in mid-December allowing him to sell as many as 9.975 million shares through mid-September 2025.
Even with Wednesday’s loss, Palantir remains 48% higher in 2025 after soaring 340% in 2024 and 167% in 2023.
— Scott Schnipper, Adrian van Hauwermeiren
