Asia-Pacific markets open higher as investors assess Trump’s tariffs
Asia-Pacific markets opened higher on Tuesday, tracking gains on Wall Street that appeared to shrug off U.S. President Donald Trump’s tariff campaign.
Trump on Monday signed an executive order imposing 25% tariffs on steel and aluminum imports into the U.S.
Australia’s S&P/ASX 200 traded 0.24% higher. South Korea’s Kospi rose 0.36%, while the small-cap Kosdaq traded around the flatline. Hong Kong’s Hang Seng futures were at 21,576, slightly stronger than the HSI’s last close of 21,521.98.
Japanese markets are closed for a holiday. Investors will also be watching Singapore’s markets after the benchmark Straits Times Index hit an all-time intraday high of 3,910.12 on Monday.
Overnight in the U.S., the three major indexes closed higher as major technology stocks outperformed. The Dow Jones Industrial Average rose 167.01 points, or 0.38%, led by a 4.8% gain in McDonald's. The 30-stock index closed at 44,470.41. The S&P 500 gained 0.67% to close at 6,066.44, and the Nasdaq Composite gained 0.98% to 19,714.27.
Federal Reserve Chairman Jerome Powell is also scheduled to speak before Congress later in the day.
Source: CNBC
