Asian stocks fell across the board as the US threatened to impose an additional 100% tax on China.

Asian stock markets fell across the board on the afternoon of October 13 after US President Donald Trump restarted the trade war with China. Mr. Trump warned that he would impose an additional 100% tax on all Chinese goods imported into the US.

Stock index board in Hong Kong, China. Photo: AFP/TTXVN

In Hong Kong (China), the Hang Seng index fell 1.5%, closing at 25,889.48 points. In Shanghai, the Shanghai Composite index fell 0.2%, closing at 3,889.50 points. The Tokyo market was closed for a holiday. The stock markets in Sydney, Singapore, Seoul, Wellington and Mumbai also fell sharply.

On October 10, President Trump announced that he would impose an additional 100% tariff on Chinese goods and warned of canceling a meeting with Chinese President Xi Jinping. He said that Beijing had restricted the export of rare earths - an important ingredient in products such as smartphones, electric vehicles and military equipment. The additional US tariffs, along with export controls on some important software, will take effect from November 1.

Although the market reaction may be similar to that of April 2025, the threat this time is likely to be short-term, according to Kai Wang, an expert at Morningstar Research. He said both sides seem to be showing their stance before the meeting scheduled for November 1, when the temporary tariff suspension agreement expires. He also said that the US government shutdown is weakening domestic consumer sentiment and President Trump may not want to increase tensions in trade relations with China while this situation is still unresolved.

In Vietnam, at the end of the trading session on October 13, the VN-Index increased by 17.57 points (1.01%) to 1,765.12 points; the HNX-Index increased by 1.73 points (0.63%) to 275.35 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-chau-a-dong-loat-giam-truoc-nguy-co-my-ap-thue-bo-sung-100-voi-trung-quoc-20251013165327560.htm