Asian stocks fall as US court revives Trump tariffs: Nikkei and Hang Seng drop 1.4%, Shanghai slips 0.5%

Asian stock markets slipped on Friday after a court ruling in the United States that gave president Donald Trump’s tariff policies a temporary reprieve. The stocks had improved the previous day when a lower court had termed them unconstitutional. The Nikkei in Tokyo and the Hang Seng in Hong Kong dropped 1.4% on Friday, while Shanghai’s Composite Index slipped 0.5%. Sydney and Seoul also fell, though markets in Wellington and Manila showed modest gains. The yen gained strength after inflation data from Tokyo came in higher than expected, increasing the likelihood of an interest rate hike by the central bank in July. The decline in Asian equities comes after Wall Street ended flat, with slight gains across the Dow and other main indexes. Weak US economic data, including a revised GDP contraction in early 2025 and disappointing jobless and housing numbers, added to the cautious mood. The legal tug-of-war…