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U.S. President Donald Trump's announcement of substantial tariffs on pharmaceutical products, effective October 1, has triggered a significant downturn in Asian pharmaceutical stocks. Companies in Japan, South Korea, and Hong Kong experienced notable declines. The tariffs, set at 100% for branded and patented drugs unless manufacturing plants are established in the U.S., also affect furniture and heavy trucks. This news overshadowed positive inflation data from Tokyo and a mixed performance in broader Asian markets, with South Korea's Kospi leading losses.

Prepared by Christopher Adams and reviewed by editorial team.