Asia-Pacific markets traded mixed on Tuesday as investors assessed signs of easing rhetoric between the United States and China amid renewed trade tensions and fresh tariffs on shipping.
Following several rounds of tit-for-tat restrictions and heated exchanges, United States President Donald Trump appeared to strike a softer tone over the weekend, writing on Truth Social: “Don’t worry about China, it will all be fine!”
The comments came as both countries introduced reciprocal port fees, with China imposing charges on U.S. ships docking at its ports in retaliation for similar measures by Washington. The fees from both sides took effect on Tuesday, rekindling concerns over the broader trade outlook.
By 11:30 am AEDT (12:30 am GMT), Australia’s S&P/ASX 200 edged 0.1% lower, while Japan’s Nikkei 225 fell 0.6%. South Korea’s Kospi 200, however, outperformed, rising 1.7% to reach fresh record highs.
In the U.S. overnight, Wall Street indices rebounded. The Dow Jones Industrial Average added 1.3%, the S&P 500 gained 1.6%, and the tech-heavy Nasdaq lifted 2.2%.
Among commodity markets, Brent crude added 0.9% to US$63.32 per barrel, while spot gold surged a further 2.3% to fresh record highs of US$4,110.34 per ounce.
In China, the Shanghai Composite slipped 0.2% to 3,889.5, and the CSI 300 fell 0.5% to 4,594.0.
Hong Kong’s Hang Seng Index declined 1.5% to 25,889.5, while India’s BSE Sensex edged 0.2% lower to 82,327.1.
European markets fared slightly better on Monday, managing to claw back some of last week’s losses. London’s FTSE 100 rose 0.2% to 9,442.9, Germany’s DAX gained 0.6% to 24,387.9, and France’s CAC 40 added 0.2% to close at 7,934.3.
