06:07 AM EST, 02/28/2025 (MT Newswires) -- Asian stock markets headed lower Friday after US President Donald Trump confirmed Thursday that the tariff on China imports to the US would double to 20%.

Hong Kong, Shanghai and Tokyo finished solidly in the red, as did other regional exchanges.

In Japan, the Nikkei 225 opened lower and sagged to the close, finishing off 2.9% as traders pondered trade relations, and the outlook of Japan's exports to the US. The benchmark Nikkei 225 fell 1,100.67 to 37,155.50. Maker of semiconductor-manufacturing equipment Disco lost 10%.

In economic news, Japan retail sales grew by 3.9% on year in January, the Ministry of Economy, Trade and Industry reported. Japan's industrial output in January rose 2.6% on year.

In other news, Tokyo's consumer price index-core rose 2.2% on year in February, down from a 2.5% gain in January, reported the Statistics Bureau.

In Hong Kong, the Hang Seng Index opened lower and drifted south, finishing off 3.3% on international trade tensions and the pending Trump tariffs.

The broad gauge Hang Seng fell 776.97 to 22,941.22. The Hang Seng TECH Index lost 5.3% on the day, while the Mainland Properties Index fell 4.1%.

Leading the upside was Macau gaming-house Galaxy Entertainment, gaining 1.9%, while BYD Electronic International slumped 11%.

On the mainland, the Shanghai Composite fell 2% to 3,320.90.

On the other regional exchanges, the S. Korean KOSPI fell 3.5%; the Taiwan TWSE dropped 1.5%; the Australian ASX 200 declined 1.2%; the Singapore Straits Times Index fell 0.7%, and the Thai Set shed 1%. In late trading in Mumbai, the Sensex was down 1.9%.