Asia-Pacific markets traded mixed on Monday as investors weighed renewed tariff uncertainty after United States President Donald Trump announced over the weekend that he would raise global tariffs to 15% from 10%.
The move followed a decision by the Supreme Court of the United States to strike down a significant portion of the president’s trade agenda enacted under the International Emergency Economic Powers Act of 1977 (IEEPA), prompting a fresh shift in policy direction.
By 11:30 am AEDT (12:30 am GMT), Australia’s S&P/ASX 200 was down 0.3%, while South Korea’s KOSPI 200 climbed 1.3%, extending its advance to fresh record highs.
Japan’s Nikkei 225 remained closed for a public holiday.
In Greater China, mainland markets remained shut on Friday for the Lunar New Year holiday.
Hong Kong’s Hang Seng Index fell 1.1% to 26,413.4, while India’s BSE Sensex gained 0.4% to 82,814.7.
On Wall Street Friday, major U.S. benchmarks closed higher, with the Dow Jones Industrial Average adding 0.5%, the S&P 500 gaining 0.7%, and the Nasdaq Composite lifting 0.9%.
Commodity markets firmed at the end of last week. Brent crude ticked up 0.1%, settling at fresh multi-month highs of US$71.76 per barrel. Spot gold added 2.2% to close at US$5,108.26 per ounce.
European markets also ended Friday in positive territory. The UK’s FTSE 100 rose 0.6% to a record closing high of 10,686.9. Germany’s DAX gained 0.9% to 25,260.7, while France’s CAC 40 advanced 1.4% to a fresh record close of 8,515.5.
