Asian stocks end lower, China benchmark marginally down

Asian stocks ended mostly lower on Wednesday as U.S. President Donald Trump announced a 19 percent tariff on Indonesian exports under a new bilateral pact.

Indonesia has scrapped tariffs on U.S. goods and pledged billions in purchases to maintain access to its second-largest export market, it was said.

The 19 percent tariff is just below Vietnam's 20 percent and Bangladesh's 35 percent, two key rivals in major export sectors such as textiles, footwear and apparel.

The dollar pulled back slightly, and U.S. Treasury yields retreated after rising in the previous session as June U.S. CPI data showed early signs of tariff-linked inflation.

 

Gold inched higher on concerns surrounding Trump's tariff policy. Oil prices were steady as OPEC maintained oil-demand forecast for 2025 and 2026.

China's Shanghai Composite index finished marginally lower at 3,503.78. Hong Kong's Hang Seng index gave up early gains to end 0.29 percent lower at 24,517.76.

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