Asian equity markets finished mostly higher on Tuesday after US President Donald Trump extended the grace period for a new wave of tariffs targeting 14 trading partners.
The White House said tariffs ranging from 25% to 40% would go into effect on August 1, but Trump indicated there would be additional room for negotiation, particularly with Japan and South Korea.
The announcement eased some immediate concerns over trade disruptions and lifted investor sentiment across key regional markets.
Tariff rates on other countries, including Malaysia, Indonesia, and Laos, remained unchanged in the revised notice.
Hong Kong stocks rebound after three-day losing streak
Hong Kong stocks advanced, snapping a three-day losing streak, as investors bet on more favorable terms emerging from the ongoing trade discussions.
The Hang Seng Index rose 1.1% to close at 24,148.07, reversing a cumulative 1.4% decline over the previous three sessions.
The Hang Seng Tech Index also added 1.8%.
Technology stocks led the gains. Baidu surged 3.6% to HK$88.95, while Kuaishou Technology rallied 5.2% to HK$66.25.
Xiaomi gained 2.4%, closing at HK$58.65. Alibaba Group Holding advanced 1.5% to HK$107.
Tencent Holdings rose 0.5% to HK$504.50 after disclosing a share buyback worth HK$501 million (US$63.8 million) on Monday.
Japan stocks gain on weaker Yen
Japanese equities also rose, supported by a weaker yen. The Nikkei 225 closed up 0.26% at 39,688.81, led by chip-related stocks.
The broader Topix index climbed 0.17% to 2,816.54. Advantest gained 2.5%, while Honda Motor added 0.8%.
However, Nissan Motor fell sharply, dropping 6.4% to extend losses for a third straight session.
The decline followed reports that the automaker is in discussions with Taiwan’s Foxconn over potential electric vehicle production at a plant in Japan.
Other regional markets
Seoul’s benchmark Kospi index rose 1.81% to 3,114.95, advancing for a second straight session despite ongoing concerns around US trade policy.
Financial and utility shares led the rally. Hana Financial Group jumped 10.3%, Woori Financial added 8.3%, and Korea Electric Power climbed 4.5%.
Australian shares ended marginally higher after a volatile session, with the S&P/ASX 200 index posting a modest gain.
The Reserve Bank of Australia surprised markets by holding interest rates steady at 3.85%.
A business survey showing improved sentiment in June also supported investor mood, although trading remained cautious amid broader global uncertainties.
Indian equity benchmarks ended modestly higher on Monday after a largely range-bound session, even as global markets grappled with uncertainty following US President Donald Trump’s decision to impose 25%–40% tariffs on 14 countries.
The Sensex rose 270.01 points, or 0.32 percent, to close at 83,712.51, while the Nifty gained 61.20 points, or 0.24 percent, to end at 25,522.50.
Market breadth was mixed, with 1,889 stocks advancing, 1,990 declining, and 124 remaining unchanged. Broader markets underperformed, ending slightly in the red.
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