Financial Center / Comprehensive Report. On April 2, U.S. President Trump proposed the "reciprocal tariffs" policy, which triggered significant upheaval in global markets, with the financial situation remaining impacted throughout April. Hsieh Chin-ho, Chairman of Cathay Media, pointed out that this correction is not a natural economic cycle but a "man-made bear market" caused by Trump's policies, emphasizing that "reciprocal tariffs will ultimately not be sustainable."

After the announcement of Trump's policy in early April, panic swept the global market, with the Taiwan stock market plunging 2,065 points on the first trading day after the Qingming holiday (April 7), a daily drop of 9.7%, nearly hitting the limit down. Hsieh noted that many investors' emotions collapsed, and the market was once engulfed in the atmosphere of an “apocalypse.” He shared his experience of a taxi ride where the driver expressed anger towards Trump, reflecting the immense pressure and helplessness of retail investors.

However, as Trump's attitude gradually softened and signs of extending tariff exemptions and willingness to communicate with Chinese leader Xi Jinping emerged, market sentiment began to stabilize. The Taiwan stock market rebounded from a low of 17,306 points in April to 20,235 points by the end of the month, though it still saw a decline of 460 points, representing a drop of about 2.23%, reclaiming most of its losses. Hsieh pointed out that in terms of global stock market performance, South Korea, India, Indonesia, and Thailand all increased by over 3% in April, while the Chinese market showed weakness, with Vietnam falling 6%, Shenzhen down 5.75%, Shanghai down 1.7%, and Hong Kong down 4.3%. In the U.S., the Dow Jones Industrial Index fell by 3.17%, and the Philadelphia Semiconductor Index fell slightly by 0.95%.

Hsieh believes that the gradual recovery of the stock market following significant declines is primarily due to Trump's softened stance, from a 90-day tariff exemption to a message of reducing tariffs on Chinese goods, leading the market to fluctuate alongside Trump's remarks. He stressed that U.S. public opinion will exert pressure on Trump and stated, "Raising tariffs is like playing a game of Jenga; eventually, it will not be sustainable." Hsieh also reminded investors, "Life will always find a way! Let's keep watching together!"