Asia-Pacific markets traded mixed on Tuesday as investors assessed a flurry of regional manufacturing data and kept a watchful eye on United States trade policy, with President Donald Trump’s 90-day tariff reprieve set to expire next week.
At 11:40 am AEST (1:40 am GMT), Australia’s S&P/ASX 200 rose 0.1%, while Japan’s Nikkei 225 slipped 1.1%. South Korea’s Kospi 200 outperformed, climbing 1.9%.
Among data releases, business sentiment among Japan’s large manufacturers improved unexpectedly, as the Tankan large manufacturers index climbed to 13, up from 12 previously and exceeding forecasts of 10.
Separately, Japan’s au Jibun manufacturing PMI printed at 50.1, slightly below expectations of 50.4 but marking the first expansion in 10 months. Despite the uptick, demand remained weak, with sales continuing to fall.
China’s Caixin manufacturing PMI also lifted to 50.4 in June from 48.3 in May, surpassing market expectations of 49, as production expanded at its fastest pace since November 2024 amid a fresh rise in total new orders, although export sales declined slightly and average output charges were cut at the sharpest rate in five months.
Meanwhile, South Korea’s manufacturing PMI rose to 48.7 in June from 47.7 in May, signalling a milder contraction in factory activity. The data showed slower declines in output and new orders, a renewed fall in employment, and a rebound in business optimism.
On Wall Street, U.S. equities closed higher overnight, with the Dow Jones Industrial Average gaining 0.6%, while the S&P 500 and Nasdaq Composite each rose 0.5%, extending their record-setting streaks.
In commodities, Brent crude edged down 0.1% to US$66.74 a barrel. Spot gold rebounded 0.9%, closing at US$3,303.15 an ounce after recent weakness.
Chinese shares were higher, with the Shanghai Composite up 0.6% to 3,444.4 and the CSI 300 adding 0.4% to 3,936.1. Hong Kong’s Hang Seng Index dropped 0.9% to 24,072.3, while India’s BSE Sensex declined 0.5% to 83,606.5.
European markets closed lower overnight. London’s FTSE 100 dipped 0.4% to 8,761, Germany’s DAX slid 0.5% to 23,909.6, and France’s CAC 40 dropped 0.3% to 7,665.9.
