Asia Mixed as Trump Nixes Extensions

Asia-Pacific markets traded mixed Wednesday after U.S. President Donald Trump ruled out a deadline extension on tariffs set to kick off on Aug. 1.

In Japan, the Nikkei 225 gained 132.47 points, or 0.3%, to 39,688.81.

In Hong Kong, the Hang Seng docked 255.75 points, or 1.1%, to 23,892.32.

Trump on Tuesday stateside also announced a 50% levy on copper imports and indicated that further sector-specific tariffs will come soon.

He also threatened to impose tariffs of up to 200% on pharmaceutical exports into the U.S., but said he will “give people about a year, year and a half” before the duties go into effect.

In other markets,

In Shanghai, the CSI 300 slumped 7.05 points, or 0.2%, to 3,991.40

In Korea, the Kospi index pointed north 18.79 points, or 0.6%, to 3,133.74.

In Singapore, the Straits Times index climbed 16 points, or 0.4%, to 4,047.86.

In Taiwan, the Taiex index recovered 164.74 points, or 0.7%, to 22,527.01.

In New Zealand, the NZX 50 dropped 90.41 points, or 0.7%, to 12,768.61.

In Australia, the ASX 200 lost 52.11 points, or 0.6%, to 8,538.58.