Asian Stocks Mixed as Investors Assess 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.

In Japan, the Nikkei 225 revived 101.13 points, or 0.3%, to 39,688.81.

In Hong Kong, the Hang Seng ballooned 260.24 points, or 1.1%, to 24,148.07.

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% levy, 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.

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.”

In other markets,

In Shanghai, the CSI 300 regained 33.28 points, or 0.8%, to 3,998.45

In Korea, the Kospi index strengthened 55.48 points, or 1.8%, to 3,114.95

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

In Taiwan, the Taiex index tumbled 66.45 points, or 0.3%, to 22,362.27.

In New Zealand, the NZX 50 hiked 94.07 points, or 0.7%, to 12,859.02.

In Australia, the ASX 200 nosed up 1.39 points to 8,590.69.