Asia-Pacific markets traded mixed on Friday as easing tariff concerns from Washington buoyed risk sentiment, while investors assessed fresh economic data from Japan.
White House spokesperson Karoline Leavitt downplayed the importance of the upcoming tariff deadline, which weighed on market sentiment. “The deadline is not critical,” she said. “Perhaps it could be extended, but that’s a decision for the president to make.”
The so-called “Liberation Day” tariffs are set to take effect on July 8, with a separate EU deadline on July 9.
At 11:20 am AEST (1:20 am GMT), Australia's S&P/ASX 200 climbed 0.4%, pushing it closer to record highs. Japan’s Nikkei 225 outperformed with a 1.5% rise, while South Korea’s Kospi 200 slipped 0.3%.
In Tokyo, the core consumer price index rose 3.1% year-on-year in June, easing from May’s 3.4%.
Japan’s unemployment rate held steady at 2.5% in May, according to expectations. The number of unemployed fell to 1.72 million, while employment rose to a record 68.37 million.
Retail sales in Japan also increased 2.2% year-on-year in May, marking the 38th consecutive month of growth but slowing down from April’s 3.5% and missing 2.7% forecasts.
Monthly, sales slipped by 0.2%, reversed a 0.7% rise in April.
Separately, China’s industrial profits tumbled 9.1% in May, and were down 1.1% in the first five months of 2025 from the same period last year, official data showed on Friday.
Overnight, major benchmarks extended gains. The Dow added 0.9%, the S&P 500 rose 0.8%, and the Nasdaq climbed 1%.
In commodities, Brent crude rose 0.4% to US$66.69 per barrel, while spot gold edged down 0.1% to US$3,327.82 per ounce.
Chinese equities eased slightly after recent gains, with the Shanghai Composite down 0.2% to 3,448.5, retreating from six-month highs. The CSI 300 fell 0.4% to 3,946.
Hong Kong’s Hang Seng Index declined 0.6% to 24,325.4, while India’s BSE Sensex added 1.2%, closing at an eight-month high of 83,755.9.
Europe's markets were mostly higher. London’s FTSE 100 rose 0.2% to 8,735.6, Germany’s DAX gained 0.6% to 23,649.3, and France’s CAC 40 was little changed at 7,557.3.
