Asia-Pacific markets traded mixed Tuesday as investors weighed renewed tariff threats from U.S. President Donald Trump and concerns that artificial intelligence could disrupt software companies.
In Japan, the Nikkei 225 returned to trading with a massive gain of 495.39 points, or 0.8%, to 57,321.09
In Hong Kong, the Hang Seng Index faltered 491.59 points, or 1.8%, to 26,590.32, dragged down by healthcare stocks. Labubu maker Pop Mart was the largest loser on the index, shedding 5%, after it released a new toy series Monday.
Korea’s Kospi reached a new record high for the third straight session and was powered by a chip rally.
Taiwan’s Weighed Index climbed to a new high. Chip giant Taiwan Semiconductor Manufacturing Company rose over 3.42%.
Trump posted on Truth Social Monday that any country that wants to “play games” with the Supreme Court decision “will be met with a much higher tariff.”
The comments followed a Supreme Court decision Friday striking down tariffs enacted under the International Emergency Economic Powers Act. In response, Trump said he would impose a 15% global tariff under Section 122 of the 1974 Trade Act.
CHINA
In China, the CSI 300 gained 47.14 points, or 1%, to 4,707.54.
Investors in Asia were also assessing China’s loan prime rate decision. China’s central bank on Tuesday keeping its benchmark lending rates unchanged at 3% for the one-year LPR and 3.5% for the five-year LPR.
The one-year LPR serves as a benchmark for new commercial loans, while the five-year LPR guides property loans.
Markets in mainland China were up 1.06% as the market reopens after the Lunar New Year holiday.
In other markets
In Singapore, the Straits Times Index lost 20.54 points, or 0.4%, to 5,020.79.
In Korea, the Kospi index muscled up 123.55 points, or 2.1%, to 5,969.64.
In Taiwan, the Taiex popped 927.56 points, or 2.8%, to 34,700.82.
In Australia, the ASX dipped 3.72 points, to 9,022.32.
In New Zealand, the NZX 50 charged ahead 111.88 points, or 0.8%, to 13,532.31.
