Major stock markets across Asia closed in the red on July 24, 2026. The Shanghai Composite Index ended at 3,814.20 points, down 62.58 points or 1.61 percent, after the United States imposed new tariffs of 10 to 12.5 percent on 60 countries, with China facing the highest rate of 12.5 percent. The Hang Seng Index closed at 24,963.23 points, down 247.58 points or 0.98 percent, amid Middle East concerns that boosted oil prices. The Nikkei plunged 1,811.45 points or 2.73 percent to 64,611.15 points, weighed by worries over AI investment and Middle East tensions. South Korea's Kospi tumbled 406.27 points or 5.72 percent to 6,690.62 points after President Trump threatened military action against Iran. Australia's S&P/ASX 200 fell 66.70 points or 0.75 percent to 8,772.30 points, tracking a sell-off in technology stocks.