Asian shares decline after Trump's pharma tariffs

Asian stocks declined on Friday as the outlook for U.S. interest rates remained uncertain and the Trump administration announced a new round of tariff measures, including 100 percent duties on imported branded drugs, 25 percent tariffs on heavy-duty trucks and 50 percent tariffs on kitchen cabinets. All new duties will take effect on October 1.

Following stronger-than-expected economic data released overnight, investors also waited key U.S. inflation reading later in the day for more clues on the outlook for rates.

Chinese markets ended notably lower, with the benchmark Shanghai Composite index closing down 0.65 percent at 3,828.11 after the S&P 500 dropped for a third straight session overnight, marking the longest slide in a month.

Hong Kong's Hang Seng index fell 1.35 percent to 26,128.20 on valuation and tariff jitters.

Powered by Capital Market - Live News