Asia-Pacific markets traded moderately higher on Monday as investors awaited further details on U.S. President Donald Trump’s tariff plans, set to take effect this week.
By 11:35 am AEDT (12:35 am GMT), Australia’s S&P/ASX 200 was up 0.3%, while Japan’s Nikkei 225 added 0.9%. South Korea’s Kospi 200 remained closed for a public holiday.
Among data, releases, Australia’s manufacturing sector showed signs of improvement, with the S&P Global Australia Manufacturing PMI rising to 50.4 in February, and posting its highest results since February 2023.
Incoming new orders returned to growth for the first time since November 2022, inflationary pressures eased and business optimism reached its highest level since April 2022.
In addition, Australian Bureau of Statistics Business Indicators data revealed that quarterly company gross profits and business inventories rose 5.9% and 0.1%, respectively, surpassing market expectations.
In Japan, the au Jibun Bank Manufacturing PMI improved slightly to 49.0 in February from 48.7 in January, indicating a marginally slower contraction in factory activity.
Output and new orders continued to decline but at a reduced pace, employment levels remained stagnant, while input costs rose at the fastest rate since August 2024, prompting manufacturers to increase selling prices.
In China, the Caixin/S&P Global manufacturing purchasing managers' index PMI rose to 50.8 from 50.1 in January, reflecting a steady recovery as millions of migrant workers resumed operations after the extended Lunar New Year holiday.
On Wall Street, major markets ended higher on Friday after a volatile week. The S&P 500 gained 1.6%, closing at 5,954.5, while the Dow Jones Industrial Average rose 601.4 points, or 1.4%, to 43,840.9. The Nasdaq Composite climbed 1.6% to 18,847.3.
Market turbulence briefly surfaced following heightened geopolitical tensions after Trump and Ukraine President Volodymyr Zelenskyy disagreed over strategies to end the Russia-Ukraine conflict.
In the commodities market, Brent crude declined 1% to $72.81 per barrel, while spot gold fell 0.7% to $2,858.14 per ounce.
China’s markets slid amid renewed economic concerns, with the Shanghai Composite falling 2% to 3,320.9 and the CSI 300 losing 2% to 3,890.
The Hong Kong Hang Seng Index dropped 3.3% to 22,941.3, while India’s BSE Sensex declined 1.9% to 73,198.1.
In Europe, the FTSE 100 added 0.6%, the DAX was flat, and the CAC 40 edged up 0.1%.
