Tariff swings prompt repositioning in Asian assets

Investors hedge dollar weakness, split on Chinese equities

The appreciation in Asian currencies is a reversal from last year, when governments had to intervene in markets to shore up their weak currencies and slow down their rate-cutting cycle. (Photo by Akira Kodaka)

LISA KIM

May 30, 2025 18:00 JST

TOKYO -- The U.S. court battle over the legality of President Donald Trump's tariffs comes as global investors have been repositioning in Asian markets, expecting most regional currencies to strengthen as new American policies reshape global trade.

In the latest legal development, a U.S. federal appeals court ruled on Thursday that most of the levies can stay for now while it decides whether to uphold a lower court decision that Trump's "reciprocal" tariffs were illegal. The White House expects a final decision to be made by the Supreme Court.