Asia-Pacific equities were mixed on Tuesday as investors assessed developments from the Shanghai Cooperation Organization summit in Tianjin, while lingering concerns over United States tariffs weighed on sentiment.
The cautious mood followed Friday’s federal appeals court ruling that most of President Donald Trump’s global tariffs were illegal, a decision that could reshape trade policy if upheld.
By 11:40 am AEST (1:40 am GMT), Australia’s S&P/ASX 200 slipped 0.1%. Japan’s Nikkei 225 gained 0.7%, while South Korea’s Kospi 200 also rose 0.7%.
In South Korea, consumer prices increased 1.7% in August from a year earlier, the slowest pace in nine months, as falling telecommunications fees drove inflation lower, according to Statistics Korea.
Meanwhile, Australia’s current account deficit narrowed slightly in the June quarter to A$13.7 billion, down A$0.4 billion from the previous quarter, and below forecasts of A$15.1 billion, the Australian Bureau of Statistics said.
U.S. markets were closed on Monday for a public holiday.
In commodities, Brent crude gained 1% to US$68.15 a barrel. Spot gold rose 0.8% to US$3,476.37 an ounce, setting fresh record highs as investors sought safe-haven assets.
Chinese markets advanced, with the Shanghai Composite up 0.5% to 3,875.5 and the CSI 300 climbing 0.6% to 4,523.7, its strongest close since March 2022.
Hong Kong’s Hang Seng Index rallied 2.5% to 25,613.8, while India’s BSE Sensex rose 0.7% to 80,364.5.
European markets finished higher overnight, with London’s FTSE 100 up 0.1% at 9,196.3, Germany’s DAX rising 0.6% to 24,037.3, and France’s CAC 40 lifting 0.1% to 7,707.9.
