Asia-Pacific markets rise as investors assess Trump's steep tariffs

Asia-Pacific markets rose after U.S. President Donald Trump announced steep tariffs on 14 trading partners, including Japan and South Korea.

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% excise duty, 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.

Japan's Nikkei 225 benchmark added 0.18% while the broader Topix index was flat.

In South Korea, the Kospi index increased by 1.01% while the small-cap Kosdaq was flat.

Mainland China's CSI 300 index added 0.2% while Hong Kong's Hang Seng Index ticked up 0.18%.

Over in Australia, the S&P/ASX 200 benchmark was flat before the Reserve Bank of Australia announced its monetary policy stance. The central bank is expected to cut interest rates by 25 basis points to 3.6% when its two-day policy meeting concludes later today.

U.S. stock futures fell in early Asian hours after Trump's fresh tariffs saw all three key benchmarks on Wall Street hit their worst day since mid-June.

Overnight stateside, the Dow Jones Industrial Average tumbled 422.17 points, or 0.94%, and ended at 44,406.36. The S&P 500 fell 0.79% to close at 6,229.98, and the Nasdaq Composite lost 0.92%, settling at 20,412.52.

South Korean stocks shrug off Trump's threat of 25% tariffs

South Korean stocks extended gains for a second consecutive session on Tuesday as investors assessed the impact of U.S. President Donald Trump's 25% tariffs on the country, starting Aug. 1.

As of 9.45 a.m. local time, the Kospi index had popped 1.56% to 3,107.07. It has gained nearly 30% since the start of the year.

Among the index heavyweights, Samsung Electronics was up 0.89%, while SK Hynix rose 3.51%.

The small-cap Kosdaq index rose 0.5% to 782.34. It has gained 15.42% since the start of the year.

Samsung shares fall in early trade on lower second quarter profit guidance

Shares of Samsung Electronics fell as much as 1.13% in early trade Tuesday after the company forecast a 56% plunge in its second-quarter profits following difficulties in capturing demand from chipmaker Nvidia.

The company projected that operating profit for the quarter ending June would be approximately 4.6 trillion Korean won ($3.36 billion), down from the 10.44 trillion won in the same period last year.

Separate reports indicate that Samsung Electronics is set to carry out a share buyback amounting to 3.9 trillion won.

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Asia-Pacific markets mostly rise in early trade

Asia-Pacific markets started the day mostly higher Tuesday.

As of 8.13 a.m. Singapore time, Japan's Nikkei 225 benchmark added 0.43% while the broader Topix index had increased by 0.24%.

In South Korea, the Kospi index rose 0.86% while the small-cap Kosdaq ticked up 0.56%.

Over in Australia, the S&P/ASX 200 benchmark fell 0.42%.

Here are the opening calls for the day

Good morning from Singapore.

Asia-Pacific markets are set to open lower after U.S. President Donald Trump announced higher tariffs on 14 trading partners including Japan and South Korea.

As of 7.40 a.m. Singapore time, Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 39,470 while its counterpart in Osaka last traded at 39,330, against the index's Monday close of 39,587.68.

Futures for Hong Kong's Hang Seng index stood at 23,886 pointing to a marginally weaker open compared to the HSI's last close of 23,887.83.

Australia's S&P/ASX 200 was also set to start the day lower with futures tied to the benchmark at 8,526, compared to its last close of 8,589.30. The Reserve Bank of Australia is expected to cut interest rates by 25 basis points to 3.6% when its two-day policy meeting concludes later in the day.