This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets opened lower Wednesday after Wall Street declined overnight as investors assessed quarterly earnings, while tariff worries continued to weigh on investor sentiment.
Japan’s Nikkei 225 traded around the flatline. South Korea’s Kospi fell 0.2% while the small-cap Kosdaq lost 0.18%.
Australia’s S&P/ASX 200 slipped 0.08%
Hong Kong’s Hang Seng index futures were at 21,455, slightly weaker than the HSI’s last close of 21,466.27.
China is set to post its first-quarter GDP figures later in the day. Reuters’ economists expect a 5.1% expansion year on year, compared to 5.4% growth in the previous quarter.
The country is also slated to report its industrial production, retail sales and unemployment data.
UBS recently downgraded its GDP forecast for China to 3.4% for 2025, and to 3% next year. The investment bank’s chief China economist, Tao Wang, estimates that tariff hikes imposed by the U.S. on Chinese goods will cause a more than 2 percentage points drag on China’s GDP growth.
Bloomberg on Tuesday reported that China had ordered all airlines to halt deliveries of Boeing jets amid a tit-for-tat tariff war with the U.S. This move could increase chances of a negotiation, according to Louis Navellier, founder and chairman of Navellier & Associates.
“The probability of a resolution of the trade spat between China and the U.S. is now expected since Boeing and the technology industry are likely putting pressure on the White House,” said Navellier.
U.S. stock futures slipped as investors looked ahead to the release of a key retail sales report and more earnings from the first-quarter season. Dow Jones Industrial Average futures dropped 139 points, or 0.3%. S&P 500 futures and Nasdaq 100 futures dipped 0.7% and 1.1%, respectively.
Overnight in the U.S., the three major averages fell. The Dow Jones Industrial Average lost 155.83 points, or 0.38%, to close at 40,368.96. The S&P 500 declined 0.17% and ended at 5,396.63. The Nasdaq Composite ticked down 0.05% and settled at 16,823.17. The three averages slipped following back-to-back winning sessions.
— CNBC’s Alex Harring and Lisa Kailai Han contributed to this report.
Stocks close lower
Stocks finished Tuesday in the red.
The Dow closed 0.4% lower. The S&P 500 and Nasdaq Composite shed roughly 0.2% and 0.1%, respectively.
— Alex Harring
Gold miners hit highest level since 2012
The VanEck Gold Miners ETF (GLD) advanced 0.6% Tuesday, reaching its highest point since November 2012.
Some of the companies in the fund at new 52-week highs include Alamos Gold, AngloGold, Agnico Eagle and Endeavour Mining.
The surge higher comes as gold prices have surged in 2025, due to a surge in safe-haven demand as Trump’s tariff policies spark uncertainty in the market.
— Hakyung Kim, Gina Francolla
Market isn’t ‘out of the woods yet’ with volatility around tariffs, Piper Sandler says
Stocks may be due for more chaotic moves with tariff uncertainty, according to Piper Sandler.
“Technically, we are ‘not out of the woods yet,’ as we’d like to see the SPX recover its March lows and make another ascent toward its 50-/200-day MAs at around 5,750-5,800,” analyst Craig Johnson wrote in a Tuesday note. “Investors are returning to the equity market despite the crosscurrents in the macro picture.”
“We expect investors to temporarily shift their attention to earnings and away from tariffs, allowing the macro picture to settle down in the upcoming weeks,” he continued.
— Sean Conlon
