Trump Tariffs Spark Asian Market Meltdown: Stocks Dive, Rupee Crashes & Gold Soars
China & Hong Kong: Mainland markets were modestly lower. The Shanghai Composite traded near 3,820–3,830 on Friday reuters.com, dragged by global tech weakness and trade jitters. Hong Kong’s Hang Seng fell over 1% on Friday reuters.com, led by declines in technology and financials. Chinese data showed some stabilization – for example, August industrial profits jumped 20.4% YoY reuters.com – but analysts note demand remains weak. Beijing’s central bank, meeting on Tuesday, said it would “step up adjustments” and keep policy loose to shore up growth reuters.com. The PBOC also signaled it would inject more credit and monitor bond markets closely. Still, with exports under pressure, Chinese equities have struggled to sustain gains.