MORNING BID ASIA-Tariffs, tech fatigue rev up month-end turbulence

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By Jamie McGeever

Feb 28 (Reuters) - A look at the day ahead in Asian markets.

A mega wave of regional economic data breaks on Asian markets on Friday, with investors already bracing for a nervous end to the month as they weigh up tariff threats from Washington, further signs of U.S. economic slowdown, and fatigue on Wall Street.

Top-tier indicators from Asia due on Friday include Tokyo inflation, Japanese retail sales and industrial production, and fourth quarter GDP from India, while keenly-awaited PCE inflation figures from the US will also be released.

The mood going into the final trading day of the month is pessimistic, soured by deepening concerns over the impact U.S. President Donald Trump's proposed tariffs will have on growth.

In the last 24 hours Trump has said 25% duties will be slapped on imports from the European Union, reiterated that tariffs on imports from Canada and Mexico will come into effect on March 4 - not April 2 as he had previously suggested - and said goods from China will be subject to an additional 10% duty.

Bank of Japan Governor Kazuo Ueda echoed these concerns from Cape Town, where the G20 meeting of finance ministers and central bank governors - which officials from many countries, including the U.S., skipped - concluded without consensus or communique.

This is another sign of the fraying of the global financial and economic order that has held for decades. The G20 "chair's summary" said participants "reiterated the commitment to resisting protectionism," but the wind from Washington is blowing in the opposite direction.

The impact on stocks continues to be most visible in tech. The Nasdaq fell sharply again on Thursday and is now down 5% year to date, significantly underperforming the Dow and S&P 500.

Chipmaker Nvidia may have issued reasonably decent results and forecasts on Wednesday but investors slammed the shares down 8.5% on Thursday. The upside for continued growth in revenue, earnings and the share price at the pace seen in recent years is negligible, so it's understandable fatigue is setting in.

Tesla shares are also on the slide, extending their losses on Thursday to more than 20% in barely a week. An ETF tracking the 'Magnificent Seven' U.S. tech shares hit a three-month low on Thursday too, and is down almost 10% since Feb. 18.

U.S. Big Tech's losses have been Chinese tech's gains, a rotation turbo-charged by the emergence of Chinese low-cost artificial intelligence model DeepSeek. Hong Kong-listed Chinese tech shares hit a fresh three-year high on Thursday before closing lower, and are on track for a monthly gain of 25%.

But with U.S. yields and the dollar also up, Asian stocks and currencies are set to open on Friday under pressure.

Here are key developments that could provide more direction to Asian markets on Friday:

- Japan Tokyo inflation (February)

- Japan industrial production, retail sales (January)

- India GDP (Q4)

(By Jamie McGeever, editing by Deepa Babington)

((jamie.mcgeever@thomsonreuters.com; Reuters Messaging: jamie.mcgeever.reuters.com@reuters.net/))