Asia-Pacific markets trade mixed as investors assess Trump's steep tariffs

Asia-Pacific markets swung between gains and losses Tuesday as investors assessed U.S. President Donald Trump's latest tariff threats on 14 trading partners.

Goods exported to the U.S. from Japan, South Korea, Malaysia, Kazakhstan and Tunisia are now set to face 25% tariffs starting Aug. 1, according to the letters Trump posted on Truth Social.

Other Asia-Pacific markets facing higher tariffs include Indonesia, which will be hit with a 32% excise duty, Bangladesh, which was slapped with a 35% duty, as well as Cambodia and Thailand, which are set for 36% tariff rates, the president's letters indicated.

Meanwhile, imports from Laos and Myanmar will face a 40% duty, Trump's letters posted on Truth Social showed.

Economists at Citi Economics Research found the exclusion of regions such as Taiwan, India, the Philippines, Sri Lanka and Pakistan interesting.

“EM [emerging market] economies where we are hopeful for a framework agreement are India & Taiwan, possibly Israel, given PM Netanyahu-President Trump meeting,” the economists wrote in a Tuesday flash note.

In reference to U.S. Treasury Secretary Scott Bessent's comments that around 100 letters will be sent to smaller countries “where we don't have much trade,” the economists were hopeful that those that have yet to receive letters “could get minimum 10% baseline tariff.”

Analysts at Barclays, meanwhile, say “one should not be surprised” if more letters are sent out in the coming days. The surprise, however, is if “revisions to the tariff rates are large,” they wrote in a Tuesday note.

“While these tariff rates would — if implemented on 1 August — imply downside risks to our GDP growth forecasts, the new deadline also implies an extension to allow more time for negotiations,” they added.

Japan's Nikkei 225 benchmark added 0.3% while the broader Topix index ticked up 0.14%.

In South Korea, the Kospi index increased by 1.19% while the small-cap Kosdaq moved up 0.36%.

Mainland China's CSI 300 index advanced 0.74% while Hong Kong's Hang Seng Index increased by 0.8%.

Over in Australia, the S&P/ASX 200 benchmark fell 0.13% ahead of the Reserve Bank of Australia's announcement of its monetary policy stance. The central bank is expected to cut interest rates by 25 basis points to 3.6% when its two-day policy meeting concludes later today.

Meanwhile, India's benchmark Nifty 50 and the BSE Sensex started the day flat.

U.S. stock futures fell in Asian hours after Trump's fresh tariffs saw all three key benchmarks on Wall Street hit their worst day since mid-June.

Overnight stateside, the Dow Jones Industrial Average tumbled 422.17 points, or 0.94%, and ended at 44,406.36. The S&P 500 fell 0.79% to close at 6,229.98, and the Nasdaq Composite lost 0.92%, settling at 20,412.52.

Singapore stocks extend rally to hit fresh all-time highs

Singapore's 30-stock benchmark Straits Times Index extended its winning run to a second day, hitting a fresh all-time high.

The index was up 0.46% at 4,050 as of 11.20 a.m. local time, with gains led by the technology, industrials and utilities sectors.

Best-performing stocks were Yangzijiang Shipbuilding which rose 2.74%, while Singapore Exchange and Singapore Telecommunications were both up nearly 2%.

Taiwanese stocks fall as investors watch Trump's tariff rollout

Taiwanese stocks fell on Tuesday, as investors kept a close watch on U.S. President Donald Trump's tariff rollout.

The benchmark Taiex index was down 1.04% at 22,196.37 as of 10.15 a.m. local time, after hitting its lowest level in two weeks earlier in the session.

The weakness was led by the energy, industrials and healthcare sectors, according to data from LSEG.

The worst three performers were Plotech Co which had plunged 8.57%, WinWay Technology which declined 7.23% and Jui Li Enterprise which dropped 6.38%.

Meanwhile, shares of tech giants Taiwan Semiconductor Manufacturing Co and Hon Hai Precision Industry — known globally as Foxconn — were last seen trading 1.39% and 1.24% lower, respectively.

The iShares MSCI Taiwan ETF shows the index's moves:

Chinese and Hong Kong stocks open marginally higher

Chinese and Hong Kong-listed stocks started the day marginally higher Tuesday amid choppy trade in other key Asia-Pacific markets.

As of 9.52 a.m. local time, the mainland'sCSI 300 index ticked up 0.24% while Hong Kong's Hang Seng Index added 0.25%.

South Korean stocks shrug off Trump's threat of 25% tariffs

South Korean stocks extended gains for a second consecutive session on Tuesday as investors assessed the impact of U.S. President Donald Trump's 25% tariffs on the country, starting Aug. 1.

As of 9.45 a.m. local time, the Kospi index had popped 1.56% to 3,107.07. It has gained nearly 30% since the start of the year.

Among the index heavyweights, Samsung Electronics was up 0.89%, while SK Hynix rose 3.51%.

The small-cap Kosdaq index rose 0.5% to 782.34. It has gained 15.42% since the start of the year.

Samsung shares fall in early trade on lower second quarter profit guidance

Shares of Samsung Electronics fell as much as 1.13% in early trade Tuesday after the company forecast a 56% plunge in its second-quarter profits following difficulties in capturing demand from chipmaker Nvidia.

The company projected that operating profit for the quarter ending June would be approximately 4.6 trillion Korean won ($3.36 billion), down from the 10.44 trillion won in the same period last year.

Separate reports indicate that Samsung Electronics is set to carry out a share buyback amounting to 3.9 trillion won.

Read the full story here.

Asia-Pacific markets mostly rise in early trade

Asia-Pacific markets started the day mostly higher Tuesday.

As of 8.13 a.m. Singapore time, Japan's Nikkei 225 benchmark added 0.43% while the broader Topix index had increased by 0.24%.

In South Korea, the Kospi index rose 0.86% while the small-cap Kosdaq ticked up 0.56%.

Over in Australia, the S&P/ASX 200 benchmark fell 0.42%.

Here are the opening calls for the day

Good morning from Singapore.

Asia-Pacific markets are set to open lower after U.S. President Donald Trump announced higher tariffs on 14 trading partners including Japan and South Korea.

As of 7.40 a.m. Singapore time, Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 39,470 while its counterpart in Osaka last traded at 39,330, against the index's Monday close of 39,587.68.

Futures for Hong Kong's Hang Seng index stood at 23,886 pointing to a marginally weaker open compared to the HSI's last close of 23,887.83.

Australia's S&P/ASX 200 was also set to start the day lower with futures tied to the benchmark at 8,526, compared to its last close of 8,589.30. The Reserve Bank of Australia is expected to cut interest rates by 25 basis points to 3.6% when its two-day policy meeting concludes later in the day.