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Asian markets decline as tariff concerns weigh on currencies
Asian stocks faced pressure as concerns grew over potential tariffs from incoming U.S. President Donald Trump, particularly targeting Canada, Mexico, and China. The yuan weakened to 7.2650 per dollar, nearing a four-month low, while the Australian dollar also approached its recent lows. In contrast, the New Zealand dollar rebounded after a smaller-than-expected interest rate cut by its central bank.