Asia-Pacific Markets Mixed Amid Tariff Uncertainty as Deadline Looms
Asia-Pacific Markets Mixed Amid Tariff Uncertainty as Deadline Looms
Asia-Pacific markets are trading mixed on Tuesday, July 1st, as investors weigh recent record gains on Wall Street against the looming expiration of U.S. President Donald Trump’s 90-day tariff reprieve, set for next week. The uncertainty follows comments from U.S. Treasury Secretary Scott Bessent on Monday, who warned that tariffs could “spring back” to previous levels if good-faith negotiations do not yield results.
Mainland China’s CSI 300 remained largely flat, despite positive economic news: the Caixin/S&P Global manufacturing purchasing manager’s index for June registered 50.4, surpassing the 49 predicted by analysts. Japan’s Nikkei 225 saw a 1% decline after reaching an 11-month high in its prior session, with the broader Topix index also falling 0.8%.
In contrast, South Korea’s Kospi index climbed 1.41%, and the small-cap Kosdaq added 0.65%. Australia’s S&P/ASX 200 was flat, while India’s Nifty 50 gained 0.21%, and the BSE Sensex held steady. Hong Kong markets are closed today for a public holiday.
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