Asia-Pacific markets mostly rise as investors assess Trump's steep tariffs

Asia-Pacific markets mostly rose after U.S. President Donald Trump announced steep tariffs on 14 trading partners, including Japan and South Korea.

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.

Japan's Nikkei 225 benchmark added 0.36% in early trade while the broader Topix index ticked up 0.31%.

In South Korea, the Kospi index increased by 0.44% while the small-cap Kosdaq was up 0.19%.

Over in Australia, the S&P/ASX 200 benchmark declined 0.44%. 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.

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.

U.S. stock futures fell in Asian hours after Trump's fresh tariffs saw all three key benchmarks on Wall Street hitting 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.

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.