Major Asian stock markets closed lower today after US President Donald Trump announced new tariffs on pharmaceuticals, heavy trucks and kitchen cabinets. South Korea’s Kospi Index plunged around two and a half per cent, Hong Kong’s Hang Seng Index slipped over 1.3 per cent, Japan’s Nikkei 225 index lost nearly 0.9 per cent, China’s Shanghai Composite Index fell over 0.6 per cent, and Singapore’s Straits Times Index dipped 0.2 per cent. Conversely, Major European indices were trading up today. London’s FTSE 100 rose nearly 0.4 per cent, France’s CAC 40 was trading 0.3 per cent up, and Germany’s DAX added almost 0.3 per cent, when reports last came in.