Asia-Pacific markets were mixed on Tuesday as investors digested United States President Donald Trump’s postponement of a proposed 50% tariff on European Union imports and parsed fresh data from China.
By 12 pm AEST (2 am GMT), Australia’s S&P/ASX 200 inched up 0.1%, while South Korea’s Kospi 200 slipped 0.5%. Japan’s Nikkei 225 edged down 0.2%.
Meanwhile, official data released Tuesday showed that Chinese industrial profits rose for a second consecutive month in April, defying the impact of U.S. trade pressures and ongoing deflationary concerns.
For the first four months of 2025, industrial profits grew 1.4% year-on-year.
U.S. futures traded higher early Tuesday, with Wall Street having remained closed on Monday for the Memorial Day holiday.
In commodities, Brent crude retreated 1% to US$64.10 per barrel, while spot gold slipped 0.5% to US$3,342.48 an ounce.
Chinese equities were largely subdued on Monday. The Shanghai Composite dipped 0.1% to 3,346.8, and the CSI 300 declined 0.6% to 3,860.1.
Hong Kong’s Hang Seng Index underperformed, dropping 1.4% to 23,282.3 as BYD fell 6.8% after introducing sharp promotional discounts, pulling down peers Geely Auto, Li Auto, NIO, and Xpeng.
India’s BSE Sensex bucked the regional trend, gaining 0.6% to 82,176.5.
European markets opened on firmer footing, with Germany’s DAX advancing 1.7% to 24,027.7 and France’s CAC 40 up 1.2% to 7,828.1. The U.K.’s FTSE 100 remained shut for the bank holiday.
