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Meanwhile, Mainland markets had a mixed week. The CSI 300 edged up 0.01% while the Shanghai Composite Index fell 0.40%.
For more analysis on the Hang Seng Index and global market trends, click here.
Commodities: Gold Surges, Iron Ore Rebounds
Commodities posted solid gains amid rising global uncertainties.
- Gold rallied 2.03%, hitting a record high of $3,087 before closing at $3,084 on safe-haven demand.
- WTI crude oil prices climbed, closing at $69.28, while iron ore snapped a four-week losing streak.
ASX 200 Rises Despite Global Headwinds
The ASX 200 bucked the broader market trend, rising 0.64%. Gains in banking, gold, and mining outweighed tech stock losses.
- Gold sector: Northern Star Resources Ltd. (NST) ended the week 2.31% higher.
- Banking sector: The Commonwealth Bank of Australia (CBA) rallied 3.32%.
- Mining sector: Rio Tinto Ltd. (RIO) gained 2.26%.
- Tech Sector: The S&P/ASX All Technology Index tumbled 3.46%.
Nikkei Index Falls on Tariff Concerns
The Nikkei Index fell 1.91% in the week. Bank of Japan caution about further rate hikes amid tariff policy uncertainties weighed on Japanese Yen demand. Despite USD/JPY advancing 0.35% to 149.815, tariff concerns outweighed currency benefits for exporters.
- Auto Sector: Nissan Motor Corp. (7201) tumbled 6.71%, while Honda Motor Co. (7267) plunged 7.85%. Japan is the second largest exporter of cars to the US.
- Tech sector: Tokyo Electron (8035) and Softbank Group (9984) fell 3.76% and 0.50%, respectively.
Looking Ahead: Key Events on the Radar
Investors will closely monitor upcoming economic data, central bank developments, and trade headlines. Key events include:
- US inflation: Markets will likely react to Friday’s Personal Income and Outlays report and US market losses.
- US Tariffs: Auto tariffs will be effective on April 3, while Trump could also impose reciprocal levies.
- Beijing Stimulus: Stimulus measures targeting consumption and domestic demand could mitigate tariff risks.
- Economic Data: China PMIs and the US Jobs Report.
Amid ongoing volatility, traders should monitor global macro trends and policy shifts to navigate risks. Get in-depth insights on Hang Seng movers here.
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