Asia-Pacific markets mostly lower as Trump reciprocal tariff deadline looms

Asia-Pacific markets mostly lower as Trump reciprocal tariff deadline looms


Filming an elevated overpass in Shanghai evening on a high-rise building

Guowei Ying | Moment | Getty Images

Asia-Pacific markets opened mostly lower Monday as U.S. President Donald Trump’s April 2 tariff deadline looms.

Australia’s S&P/ASX 200 slipped 0.37%.

South Korea’s Kospi lost 0.36%, while the small-cap Kosdaq dipped 0.05%. Japan’s Nikkei 225 rose 0.28% at the open while the Topix gained 0.13%.

Hong Kong’s Hang Seng index futures last traded at 23,657, lower than HSI’s last close of 23,689.72. Over the weekend, China’s Premier Li Qiang cautioned “rising instability” and called for countries to open up markets and enterprises.

U.S. stock futures were higher, signaling that equities could extend their recent gains.

Last Friday in the U.S., the three major averages closed higher. The indexes rebounded from their lows after Trump mentioned there would be some “flexibility” regarding tariffs. However, he reiterated the April 2 deadline for reciprocal tariffs.

The S&P 500 added 0.08% to close at 5,667.56, rising into positive territory to end four consecutive weeks of declines that were brought on by trade policy turmoil, recession fears and a rollover in megacap tech shares. The Nasdaq Composite gained 0.52% and settled at 17,784.05, while the Dow Jones Industrial Average advanced 32.03 points, or 0.08%, to close at 41,985.35.

CNBC’s Brian Evans, Sean Conlon and Hakyung Kim contributed to this report.



Source

This coming earnings season could decide if a stock market at record highs has more room to run
World

This coming earnings season could decide if a stock market at record highs has more room to run

The upcoming earnings season will show investors whether the bull case for equities still holds. The second quarter reporting season comes at a pivotal point for the stock market, with the S & P 500 and Nasdaq Composite trading at all-time highs this week even after an onslaught of bad news regarding higher tariffs, a […]

Read More
Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat: Reuters
World

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat: Reuters

Shoppers at the Walmart Supercenter in Burbank during Walmart’s multi-week Annual Deals Shopping Event in Burbank Thursday, Nov. 21, 2024. Allen J. Schaben | Los Angeles Times | Getty Images Suppliers to Walmart have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a […]

Read More
This ‘quiet luxury’ Italian brand is shaking off tariff woes as sales jump
World

This ‘quiet luxury’ Italian brand is shaking off tariff woes as sales jump

Key Points Brunello Cucinelli posted an estimate-beating 10.7% rise in first half sales as the super-rich shrug off tariff concerns. The retailer also pointed to a solid start to July and confirmed its outlook for around 10% sales growth in 2025 and 2026. Analysts, however, expressed doubt over broad-based growth for the beleaguered sector. Soaring […]

Read More