Asian Markets Set to Open Lower Amid US-China Trade Tensions; Bank of Korea Cuts Rates Due to Trump Tariffs

Asian stock markets are poised to open lower on Monday, following a significant downturn on Wall Street, which experienced its worst session of the year due to disappointing U.S. economic data. The negative sentiment was further exacerbated by concerns over the U.S.-China trade relations and the looming deadline for Trump tariffs. The Bank of Korea responded to these economic pressures by cutting its benchmark interest rate by 0.25% to 2.75%, marking its third rate reduction in four meetings. This move aims to bolster an economy facing challenges from political turmoil and the potential impact of U.S. tariffs on trade. The Korean Won is in peril as the bank also lowered its GDP forecast amid sliding exports. The absence of Japanese market participants due to the Emperor's Birthday holiday has contributed to thinner trading conditions across the Asia-Pacific region. Key indices such as the ASX 200 and KOSPI have seen declines, reflecting broader market anxieties.