Asian shares show mixed performances as Trump’s tariff deadline approaches; US markets hit new highs

Asian equity markets ended Friday unevenly after U.S. stocks climbed to fresh record levels amid growing anticipation of President Donald Trump’s July 9 deadline for imposing tariffs.

Japan’s benchmark Nikkei 225 dipped 0.6% to close at 39,762.20, reversing earlier gains, while South Korea’s KOSPI slipped 1.2% to 3,078.31. In Hong Kong, the Hang Seng lost 0.6%, settling at 23,914.44, whereas mainland China’s Shanghai Composite edged up 0.4% to 3,475.24. Australia’s S&P/ASX 200 ticked up 0.1% to 8,609.50, and India’s Sensex rose 0.1% to 83,288.73.

“Asian markets crept into Friday like someone stepping into a dark alley, ever watchful—because although U.S. equities surged on a post-payroll rally, the vibe in Asia was much more cautious. The reason? That familiar jitters whenever Trump nears the tariff trigger,” wrote Stephen Innes, managing partner at SPI Asset Management.

On Wall Street Thursday, a stronger-than-expected U.S. jobs report pushed the S&P 500 up 0.8%, marking its fourth all-time high in five trading days. The Dow Jones Industrial Average gained 344 points (0.8%), and the Nasdaq Composite climbed 1%.

South Korean President says US trade deal uncertain as Trump’s deadline approaches

Most of Trump’s proposed import levies remain on hold but are set to take effect next week unless he negotiates deals to suspend them.

In commodities, U.S. crude oil dipped 19 cents to $68.81 per barrel, while Brent crude eased 30 cents to $68.50 per barrel.

In currency markets, the U.S. dollar weakened to 144.48 Japanese yen from 144.92, and the euro inched up to $1.1771 from $1.1761.

Source: Agency