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Asia Markets: Nikkei, Kospi slide as automaker stocks tumble on new Trump tariff threat

Asian inventory markets have been jumbled together early buying and selling Thursday, as dovish information from the Fed used to be overshadowed by way of growing industry concerns, specifically after studies that the Trump administration used to be weighing new price lists of up to 25% on auto imports.

Japan’s Nikkei NIK, -1.10%   used to be down more than 1% in mid-day buying and selling, extending Wednesday’s losses. Automakers led the losses, with Toyota Motor Corp. 7203, -2.65%  , Honda Motor Co. 7267, -2.74%  and Nissan Motor Co. 7201, -1.76%  all down round 2%.

South Korea’s Kospi SEU, -Zero.33%   declined too, as Hyundai Motor Co. 005380, -2.08%   slid virtually 2% and Kia Motors Corp. 000270, -4.01%   dropped about 4%.

Stocks in Hong Kong and mainland China have been muted, with the Hang Seng Index HSI, +Zero.23%   and the Shanghai Composite SHCOMP, -Zero.24%   more or less flat. Markets in Taiwan Y9999, +Zero.27%   and Singapore STI, +Zero.24%   have been rather up, whilst financials weighed down Australia’s S&P/ASX 200 XJO, -Zero.09%  .

Late Wednesday, the U.S. Commerce Department said it used to be investigating whether or not steep new price lists towards imported autos are called for, according to nationwide security grounds. “There is evidence suggesting that, for many years, imports from in another country have eroded our home auto business,” Commerce Secretary Wilbur Ross said in a commentary.

Investors had already been jittery after President Donald Trump said Tuesday that he used to be unhappy with industry talks between the U.S. and China and that the June summit with North Korean leader Kim Jong Un could be behind schedule, as well as studies that the U.S. used to be taking into consideration chopping steel and aluminum imports from the EU by way of 10%.

Read: How an international stock-market selloff showed that Trump nonetheless calls the music

The markets have been moderately reassured by way of comments from the Fed that prompt that it could now not rush into interest-rate hikes any quicker than expected.

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