Currencies
Tariffs Rip Through Southeast Asia Stocks, Sink Vietnam’s Market
The Thai baht slipped as much as 0.8% against the dollar, while the Malaysian ringgit and South Korean won also weakened.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Southeast Asian stocks fell after Asian emerging nations were given some of the biggest tariff increases by US President Donald Trump. Vietnamese shares slid the most in more than two decades.
Vietnam’s main stock index closed 6.7% lower, the biggest one-day decline since September 2001, with about 70% of shares on the Ho Chi Minh Stock Exchange falling by the 7% daily limit. Equities in Thailand, the Philippines, Malaysia and Singapore also declined. Currencies were mixed with the Thai baht and Vietnamese dong weakening, while the Philippine peso gained.