Global Markets Today: Nikkei 225, Kospi continue to fall for third day straight amid Trump tariffs

Global markets today: Asian markets mostly declined for third session straight on Thursday as investors awaited the Bank of Korea’s policy decision.

Japan’s Nikkei 225 dropped 0.52 per cent, while the Topix fell 0.33 per cent. South Korea’s Kospi slipped 0.43 per cent, and the small-cap Kosdaq edged down 0.15 per cent. In contrast, Australia’s S&P/ASX 200 gained 0.1 per cent.

Hong Kong’s Hang Seng index futures were at 24,997, indicating a weaker start compared to the previous close of 25,201.76.

Focus will also shift to Indian markets as they reopen after Wednesday’s holiday, with new secondary U.S. tariffs of 25 per cent on Indian shipments taking effect, raising total export duties to 50 per cent.

The S&P 500 closed at a record high on Wednesday, ahead of Nvidia’s quarterly results — one of the most anticipated events on Wall Street this week — which will gauge the strength of the rally that has driven AI-related company valuations to levels some investors consider overstretched.

The S&P 500 advanced 0.24 per cent to finish at 6,481.40 points, surpassing its previous record close set on August 14. The Nasdaq added 0.21 per cent to 21,590.14 points, while the Dow Jones Industrial Average climbed 0.32 per cent to 45,565.23 points.

Meanwhile, investors were monitoring U.S. President Donald Trump’s effort to remove Federal Reserve Governor Lisa Cook—a decision expected to face legal hurdles. If successful, Trump would appoint a new member to the central bank’s board who is likely to align with his policy agenda, potentially testing the Fed’s independence.

Markets are currently factoring in a 25-basis-point interest rate cut in September, based on LSEG data, with most major brokerages supporting this outlook.

(With inputs from agencies)

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