Asia-Pacific markets traded higher on Tuesday as investors brace for a fresh round of tariffs expected later in the week.
By 11:25 am AEDT (12:25 am GMT), Australia’s S&P/ASX 200 climbed 0.7%, while South Korea’s Kospi 200 gained 1.5%. Japan’s Nikkei 225 rose 1.1%.
Among data releases, Australian retail sales increased by 0.2% in February, according to seasonally adjusted figures from the Australian Bureau of Statistics (ABS). This follows a 0.3% rise in January and a 0.2% decline in December.
“Retail spending in February remains steady, with mixed results across industries,” said Robert Ewing, head of business statistics at ABS.
Meanwhile, the Reserve Bank of Australia (RBA) is set to announce its interest rate decision later in the session. According to the RBA rate tracker, markets see only a 10% chance of a 25-basis-point cut to 3.85%.
In the U.S., two of the three major benchmarks closed in positive territory on Monday. The Dow Jones Industrial Average gained 417.9 points, or 1%, to 42,001.8, while the S&P 500 added 0.6% to end at 5,611.9. The Nasdaq Composite slipped 0.1% to 17,299.3.
Among commodities, Brent crude surged 2.8% to US$72.76 per barrel, while spot gold climbed 1.2% to a record high of US$3,123.72 per ounce as investors sought safe-haven assets.
Chinese equities ended lower, with the Shanghai Composite falling 0.5% to 3,335.7 and the CSI 300 declining 0.7% to 3,887.3.
Hong Kong’s Hang Seng Index dropped 1.3% to 23,119.6, while India’s BSE Sensex edged down 0.3% to 77,414.9.
In Europe, markets finished in negative territory. The UK’s FTSE 100 declined 0.9% to 8,582.8, Germany’s DAX slid 1.3% to 22,163.5, and France’s CAC 40 fell 1.6% to 7,790.7.
