(7 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Tokyo, Japan – 7 April 2025
1. Various of display of Nikkei 225 index falling at the opening
2. Various of interior of Tokyo Stock Exchange
3. SOUNDBITE (English) Rintaro Nishimura, Asia Group associate:
"The idea that there’s so much uncertainty going forward about how these tariffs are going to play out, that’s what’s really driving this plummet in the stock prices. And part of the reason for that is that I think it’s still uncertain whether Trump plans to use this solely for the purpose of reducing the trade deficits in certain countries or if there’s a bigger goal in mind, whether this is a negotiating chip to get some concessions out of certain countries, especially like China for example. So there’s still a question about what the end goal is here.”
4. Display showing Japan stocks falling
5. SOUNDBITE (English) Rintaro Nishimura, Asia Group associate:
“Investors are worried that especially like just looking at Japan, for example, how the tariffs will affect not just certain industries but the economy as a whole as, you know, the effects on one industry will obviously trickle down to other industries and then at the end of the day that hits consumers and that could lead to, you know, consumption being cut back and then that just is a very negative cycle for the entire economy. So I think that’s where investors are seeing a lot of uncertainty.”
6. Various of display showing Japanese stocks falling, including automobile makers
7. SOUNDBITE (English) Rintaro Nishimura, Asia Group associate:
"I think the best case would be that this is just the end, that this is a negotiating chip for negotiations and that there’s, for example, with the China case, that there is an opportunity now for Xi and Trump to sit down and really kind of negotiate and iron things out. That doesn’t seem to be the case at this point. China did announce retaliatory measures and it does seem like we’re back in the first Trump administration when there was a ratcheting of tensions on the trade front.”
8. Tokyo Stock Exchange interior
9. SOUNDBITE (English) Rintaro Nishimura, Asia Group associate:
“The fact that, like I said, the U.S. is hitting its allies pretty strong, is quite concerning, I think, beyond just the business to business and also economic relations. The idea that the U.S. is willing to kind of not sacrifice but kind of take a hit on their allies I think is a very poor message to send to a region that traditionally does not go for one side or the other, and likes to kind of see how things are going. I think this doubling down on the message that basically that the U.S. walks alone, in a sense, is the wrong message in that Southeast Asia and all these other countries that are also being hit are not going to see this in a very positive way.”
10. Stocks falling
11. SOUNDBITE (English) Rintaro Nishimura, Asia Group associate:
“But there was a sense in Japan, in the government, that they would be able to get some sort of special preferential treatment, and I think that led to a delay in the response that could have been made, and that’s clearly not happened, and now they’re rushing to get a meeting with Trump, which I’m assuming every other country is also trying to do.”
12. Various of Nikkei Index falling
ASSOCIATED PRESS
Hong Kong – 7 April 2025
13. Wide of Hang Seng Bank headquarters with electronic display showing benchmark Hang Seng Index down by over 9%
14. Various of electronic display showing Hang Seng Index down by more than 9% to 21,741 points
15. SOUNDBITE (English) Paul Pong, Pegasus Fund Managers Managing Director:
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