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    <description>Escalation of trade barriers in the form of 104 per cent tariffs on Chinese imports triggered immediate downward pressure on domestic equity indices, driven by heightened global trade tensions, weakened Asian peers and significant foreign institutional net selling. Market focus also centred on the Reserve Bank monetary policy decision, with expectations of a 25 bps rate cut seen as potential domestic stabilisation amid falling crude prices and resilient consumption, though risks from a global recession or stagflation remain.</description>
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