Asian stock markets were mixed on Monday as investors weighed ongoing concerns about global trade tensions and braced for a major wave of earnings reports from U.S. tech giants. The cautious mood followed a long Easter weekend, with several markets still closed for holidays.
U.S. stock futures were trading lower as the so-called “Magnificent Seven” tech companies—Apple, Microsoft, Nvidia, Amazon, Tesla, Alphabet, and Meta—prepare to report earnings this week. Together, these firms have seen their market value plunge by $3.8 trillion (22%) since President Donald Trump’s inauguration, largely due to the fallout from his escalating trade war with China and other nations.
🌏 Asian Market Recap
- Tokyo’s Nikkei 225 fell 1% to 34,368.42, with Japanese automakers hit hard by the U.S. administration’s new 25% tariffs on auto exports.
- China’s Shanghai Composite edged up 0.3% to 3,244.44.
- South Korea’s Kospi was flat at 2,484.23.
- Taiwan’s Taiex slipped 1.2%.
- Markets in Hong Kong and Australia were closed.
💬 Rising Global Anxiety
The lack of progress in securing new trade agreements and recent tit-for-tat tariffs has injected significant uncertainty into global markets.
“The reputational hit to the U.S. brand is real, and it’s not fading quietly into the next news cycle,” said Stephen Innes, managing partner at SPI Asset Management, in a market commentary Monday.
Unconfirmed reports suggest China has halted imports of U.S. farm goods and liquefied natural gas, aiming to avoid the steep retaliatory tariffs imposed after Trump raised duties on Chinese imports to as much as 145%.
Economists are warning that if such tariffs remain in place for an extended period, they could tip the global economy into recession.
🚗 Tesla, Oil, and Currency Moves
Tesla, which operates a major manufacturing plant in Shanghai, is scheduled to release its full quarterly report on Tuesday. The company has already revealed that vehicle deliveries fell 13% year-over-year in Q1, possibly linked to disrupted supply chains and softening demand in key markets.
Meanwhile, oil prices dipped on Monday:
- U.S. benchmark crude lost $1.20, settling at $62.81 per barrel.
- Brent crude, the global standard, fell to $66.76 per barrel.
In currency trading, the U.S. dollar weakened against the Japanese yen, falling to 141.08 yen, its lowest point since September. The euro climbed to $1.1473 from $1.1404.
Some analysts view the dollar’s decline as more than just a routine fluctuation.
“This could signal a broader loss of confidence in the U.S. as a safe haven,” said a senior FX strategist at a Tokyo investment bank, citing geopolitical instability and concerns over future economic leadership.
📉 U.S. Market Snapshot
Wall Street was closed on Friday for the holiday, but markets finished mixed on Thursday:
- The Dow Jones Industrial Average dropped 1.3%.
- The S&P 500 inched up 0.1%.
- The Nasdaq Composite slipped 0.1%.
Early Monday, 10-year U.S. Treasury yields rose to 4.35%, up from 4.32% on Thursday, reflecting investor uncertainty and possible inflationary pressures tied to tariffs and energy prices.
