{"id":39693,"date":"2025-04-04T17:12:22","date_gmt":"2025-04-04T09:12:22","guid":{"rendered":"https:\/\/www.phillipnova.com.sg\/?post_type=market_trends&#038;p=39693"},"modified":"2025-04-04T17:17:54","modified_gmt":"2025-04-04T09:17:54","slug":"post-liberation-day-tariffs-and-its-impact-to-us-sg-cn-and-jp-markets","status":"publish","type":"market_trends","link":"https:\/\/www.phillipnova.com.sg\/cn\/market_trends\/post-liberation-day-tariffs-and-its-impact-to-us-sg-cn-and-jp-markets\/","title":{"rendered":"Post &#8220;Liberation Day&#8221; Tariffs and its Impact to US, SG, CN and JP Markets"},"content":{"rendered":"<p><span style=\"font-size: 14pt;\">\r\n\r\n<\/span><\/p>\r\n<p class=\"wp-block-paragraph\">Phillip Nova\u9ad8\u7ea7\u6295\u8d44\u5206\u6790\u5e08\u6797\u77e5\u9716\u5148\u751f<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-39702\" src=\"https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/04\/IEdge-S-REIT-4-Apr.png\" alt=\"\" width=\"1537\" height=\"766\" srcset=\"https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/04\/IEdge-S-REIT-4-Apr.png 1537w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/04\/IEdge-S-REIT-4-Apr-300x150.png 300w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/04\/IEdge-S-REIT-4-Apr-1024x510.png 1024w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/04\/IEdge-S-REIT-4-Apr-768x383.png 768w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/04\/IEdge-S-REIT-4-Apr-18x9.png 18w\" sizes=\"(max-width: 1537px) 100vw, 1537px\" \/><br \/>Post &#8220;Liberation Day&#8221; tariffs, Wall Street saw its worst day since 2020 as over $2.5 trillion was erased in terms of market cap. The Dollar Index (DXY) fell by -1.67%, with recession odds increased to 40% or higher by most analyst estimates. Treasury yields also dropped to around 4% on safe haven demand. In this article, we will take a closer look at the impact to the US, Singapore, China and Japan markets.<\/p>\r\n<p>&nbsp;<\/p>\r\n<h3>US Snapshot by Sector (Nasdaq 100 -5.41%\u2193 , S&amp;P 500 Index -4.84%\u2193, Dow -3.98%\u2193)<\/h3>\r\n<ul>\r\n<li><strong>Apple (-9.25%) and tech hardware companies like Dell (-18.99%) <\/strong>plunged as their supply chain is heavily dependent on China.\u00a0<\/li>\r\n<li><strong>Nike (-14.44%), Abercrombie (-15.75%), and Lululemon (-9.58%)<\/strong> both down as they rely heavily on goods and factories from Vietnam. Nike was heavily impacted as about 50% of their goods are sourced from Vietnam.<\/li>\r\n<li>Chipmakers plunged even though the White House said Taiwan tariffs would not apply to chips &#8211; <strong>Nvidia (-7.81%) ,AMD (-8.90%), Qualcomm (-9.51%)<\/strong> all dropped. But shares could also have been be dragged down by reports that Microsoft is pulling back on data centre projects globally.<\/li>\r\n<li>Automakers all declined: <strong>Stellantis (-9.41%)<\/strong> will pause some production in Canada and Mexico.<strong> GM (-4.34%)<\/strong> plans to boost US pickup truck output. <strong>Ford (-6.01%)<\/strong> rolled out steep discounts.<\/li>\r\n<li>Defensives like <strong>Tobacco giant Phillip Morris (+3.78%), Kroger (+5.16%), and french-fry supplier Lamb Weston (+10.01%)<\/strong> rose. Lamb Weston was the top performer in the S&amp;P 500.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<h3>Singapore Snapshot by Sector (STI -0.30%\u2193)<\/h3>\r\n<ul>\r\n<li>\u8fd9<strong> iEdge S-REIT index<\/strong> was up +1.37% yesterday, led by<strong> Frasers Centerpoint Trust (+3.76%) and CapitaLand Integrated Commercial Trust (+3.33%)<\/strong> despite a broader decline in the STI, as markets price in greater policy easing to offset tariff-driven economic weakness.<\/li>\r\n<li>S-REITs outperformed banks and the broader STI since Feb 21, when the White House released its &#8220;America First Investment Policy Memorandum.<\/li>\r\n<li>Lower US yields should translate to lower SORA. The S$NEER could see a slope reduction as soon as the upcoming MAS policy review on 14 April. This is supported by MAS Core Inflation which came in as low as 0.6% YoY.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<h3>China and Hong Kong Indices Snapshot by Sector (HSI -1.52%\u2193, CSI 300 -0.59%\u2193)<\/h3>\r\n<ul>\r\n<li><strong>Nike supplier Shenzhou International (-14.15%) <\/strong>was the biggest decliner in the Hang Seng, with the US making up 16% of Shenzhou&#8217;s revenue.<\/li>\r\n<li><strong>Home appliance makers Haier (-8.03%) <\/strong>as 28% of sales comes from North America.<\/li>\r\n<li><strong>Lenovo (-7.79%)<\/strong> also declined as the Americas make up 35% of revenue.<\/li>\r\n<li><strong>Temu owner PDD Holdings (-4.54%) <\/strong>fell as US will remove the de minimis tariff exemptions for small packages from China on May 2<\/li>\r\n<li>Tsingtao Brewery (+1.54%), Kweichow Moutai (+1.28%), Haidilao (+1.37%)<\/li>\r\n<\/ul>\r\n<h3>\u00a0<\/h3>\r\n<h3>Japan: Nikkei 225 -2.77%\u2193<\/h3>\r\n<ul>\r\n<li><strong>TOPIX banks<\/strong> <strong>index <\/strong>had its worst day since August, as tariffs could result in rates not rising as quickly as expected, Japanese banks were expecting higher local rates to boost their NIMs. <strong>Sumitomo Mitsui (-7.69%), MUFJ (-7.16%), Mizuho (-7.95%)<\/strong><\/li>\r\n<li>Domestic-linked Japan stocks like <strong>Muji owner Ryohin KeiKaku (+4.04%),<\/strong> as well as railway operators like <strong>Central Japan Railway (+2.35%) <\/strong>outperformed. Ryohin Keikaku (Muji) generates 62% of revenue domestically, 33% from Asia ex Japan, and just 5% from Europe and Americas.\u00a0<\/li>\r\n<li><strong>Disneyland operator Oriental Land (+2.46%)<\/strong> also opened higher today<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p><strong>Trade opportunities driven by market volatility on Phillip Nova 2.0<\/strong><\/p>\r\n<p>Trade opportunities in Stocks, ETFs, Futures, CFDs, Options and Forex on the multi-asset Phillip Nova 2.0 platform now!<\/p>\r\n<p class=\"font-size-18\">If you\u2019re new to Phillip Nova, click\u00a0<a href=\"https:\/\/bit.ly\/3YNL2Si\"><strong>\u6b64\u5904<\/strong><\/a>\u00a0\u5728\u7ebf\u63d0\u4ea4\u7533\u8bf7<\/p>\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h2 class=\"wp-block-heading\">\u5728 NOVA \u4ea4\u6613 CFDs\u3001ETF\u3001\u5916\u6c47\u3001\u671f\u8d27\u3001\u671f\u6743\u3001\u8d35\u91d1\u5c5e\u548c\u80a1\u7968<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-7387b849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">NOVA \u4ea4\u6613\u529f\u80fd<\/h4>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">\u63a5\u901a\u8d85\u8fc7 20 \u4e2a\u5168\u7403\u4ea4\u6613\u6240 \u901a\u8fc7\u8d85\u8fc7 20 \u4e2a\u5168\u7403\u4ea4\u6613\u6240\u7684 200 \u591a\u4e2a\u73af\u7403\u671f\u8d27\u4ea7\u54c1\uff0c\u628a\u63e1\u5e02\u573a\u673a\u4f1a\u3002<\/li>\n\n\n\n<li class=\"translation-block\">\u5168\u7403\u80a1\u7968\u4ea4\u6613\u673a\u4f1a \u8986\u76d6\u65b0\u52a0\u5761\u3001\u7f8e\u56fd\u3001\u4e2d\u56fd\u3001\u9999\u6e2f\u3001\u9a6c\u6765\u897f\u4e9a\u53ca\u65e5\u672c\u5e02\u573a\u8d85\u8fc7 11,000 \u53ea\u80a1\u7968\u548c ETF\u3002<\/li>\n\n\n\n<li class=\"translation-block\">TradingView \u56fe\u8868\u652f\u6301 \u67e5\u770b\u5b9e\u65f6\u56fe\u8868\uff0c\u5e76\u4f7f\u7528\u8d85\u8fc7 100 \u79cd\u6280\u672f\u6307\u6807\u3002<\/li>\n\n\n\n<li class=\"translation-block\">\u771f\u6b63\u7684\u591a\u8d44\u4ea7\u4ea4\u6613 \u901a\u8fc7 NOVA \u7684\u5355\u4e00\u8d26\u7c3f\uff0c\u4ea4\u6613 CFDs\u3001ETF\u3001\u5916\u6c47\u3001\u671f\u8d27\u3001\u671f\u6743\u3001\u8d35\u91d1\u5c5e\u53ca\u80a1\u7968\u3002<\/li>\n\n\n\n<li><strong>\u7f8e\u5143\u53ca\u65b0\u5143\u80a1\u7968\u878d\u8d44\u5229\u7387\u4f4e\u81f3 4.5% p.a.<\/strong><br><\/li>\n\n\n\n<li><strong>\u7f8e\u80a1\u788e\u80a1\u4f4e\u81f3 1 \u7f8e\u5143\u8d77<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4ee5\u4f4e\u81f3 1 \u7f8e\u5143\u540d\u4e49\u91d1\u989d\u5f00\u59cb\u6295\u8d44\u7f8e\u80a1\u788e\u80a1\uff0c\u6bcf\u7b14\u8ba2\u5355\u4f63\u91d1\u4e3a 0.38 \u7f8e\u5143\u3002<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div style=\"height:65px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/demo.phillipnova.com.sg\/?utm_content=PFSG&amp;culture=zh-CN\" style=\"border-radius:4px;color:#fffffa;background-color:#fba64d\">\u514d\u8d39 NOVA \u6a21\u62df\u8d26\u6237<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link has-text-color wp-element-button\" href=\"https:\/\/www.phillipnova.com.sg\/cn\/open-an-account\/\" style=\"border-radius:4px;color:#fba64d\">\u5feb\u901f\u3001\u5b89\u5168\u5730\u5728\u7ebf\u5f00\u6237<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>\u7279\u6717\u666e\u6548\u5e94\uff1a\u5bf9\u80a1\u7968\u3001\u80fd\u6e90\u3001\u6307\u6570\u548c\u52a0\u5bc6\u8d27\u5e01\u7684\u5f71\u54cd<\/p>","protected":false},"featured_media":39719,"template":"","class_list":["post-39693","market_trends","type-market_trends","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - 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