A Chinese flag flies high over The Bund.
Liu Liqun | Corbis Documentary | Getty Images
Asia-Pacific markets climbed Monday as U.S. President Donald Trump paused tariffs on some consumer electronics, boosting risk sentiment.
Japan’s benchmark Nikkei 225 started the day 1.82% higher while the broader Topix index rose 1.77%.
In South Korea, the Kospi index rose 1.29% at the open while the small-cap Kosdaq added 1.22%.
Meanwhile, Australia’s S&P/ASX 200 was up 0.72%.
Futures for Hong Kong’s Hang Seng index stood at 21,059 pointing to a stronger open compared to the HSI’s close of 20,914.69 last Friday.
Trump exempted smartphones and computers as well as other devices and components such as semiconductors from his new “reciprocal” tariffs, according to a U.S. Customs and Border Protection guidance issued late Friday.
However, Trump and Commerce Secretary Howard Lutnick suggested Sunday that the exemptions were not permanent, stirring up more uncertainty.
Trump said in a Truth Social post that these products were still “subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff ‘bucket.'”
Several countries in the region are also preparing for trade negotiations with the U.S. this week.
Trump is engaging in negotiations with countries including Vietnam, India, South Korea and Japan, and is prioritizing existing trading partners that are strategic to countering China, according to two people close to the White House, reports from Politico show.
Japan’s top trade representative Akazawa Ryosei is slated to visit the U.S. this week for talks with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, according to local broadcaster NHK.
— CNBC’s Sean Conlon, Hakyung Kim and Pia Singh contributed to this report.
