Asian stock markets saw a noticeable decline following a new tariff announcement by former U.S. President Donald Trump, according to American media reports.

The Asia-Pacific region experienced widespread losses in early trading hours. Japan’s Nikkei 225 index dropped by 0.6%, while South Korea’s stock index plunged 3.2%. Taiwan’s market recorded a 0.4% dip, and Australia’s index slipped by 0.7%. Hong Kong was the only market to show a slight uptick, gaining 0.2%.

The downturn reflects investor concerns over renewed trade tensions that could potentially impact global commerce and supply chains. Market analysts attribute the decline to uncertainty surrounding U.S. trade policy and its potential ripple effects across Asian economies.

In contrast, Pakistan’s stock market surged to an all-time high, breaking historic records. The Pakistan Stock Exchange’s benchmark KSE-100 index crossed the 141,000 mark for the first time ever, trading at 141,061 points.

While Asian markets reacted negatively to international developments, Pakistan’s bullish performance highlights strong domestic investor confidence and optimism about the country’s economic outlook.