Trump Tariffs Likely to Hit Asian Currencies (CNY, THB, KRW), China Stocks

Markets are likely to remain pressured as traders reassess their positions after President-elect Donald Trump announced he would impose trade levies on Mexico, Canada, and increase tariffs on China.

Asian currencies like the Korean won and Thai baht, which are seen as proxies to China sentiment, are likely to underperform, market participants said. Chinese, Mexican and Canadian stocks are also set for declines, particularly those with large exports to the US, they said.

Here’s what analysts and strategists in Asia had to say:

Andrew Ticehurst, a senior rates strategist at Nomura in Sydney:

Carol Kong, a currency strategist at Commonwealth Bank of Australia in Sydney:

Mahjabeen Zaman, head of FX research at ANZ Banking Group in Sydney:

Kiyong Seong, a macro strategist at Societe Generale in Hong Kong:

Alex Loo, a macro strategist at Toronto-Dominion Bank in Singapore:

Mitul Kotecha, head of Asia FX & EM macro strategy at Barclays in Singapore:

Frances Cheung, strategist at Oversea-Chinese Banking Corp

Rajeev de Mello, a global macro portfolio manager at Gama Asset Management SA

Lynn Song, Greater China chief economist at ING Bank in Hong Kong: