Asia-Pacific Markets Respond Positively to Trump's Tariff Announcement

Asia-Pacific markets experienced a mostly upward trajectory on Monday following an announcement by United States President Donald Trump. The announcement revealed exemptions for certain Chinese technological devices, including semiconductors and smartphones, from the proposed 145% tariff. However, Trump later clarified via Truth Social that a 20% levy on fentanyl would still apply to Chinese electronics.

Market Performance Across the Region

South Korea's Kospi saw a rise of 0.81%, while Hong Kong's Hang Seng jumped by 1.91%. Japan's Nikkei 225 grew by 1.14%, and in mainland China, the Shanghai Composite added 0.75% with the Shenzhen Composite increasing by 0.96%. Australia's S&P/ASX 200 also enjoyed a boost, increasing by 1.07%.

Currency Movements

The dollar experienced a slight decline against the yen, trading 0.72% lower.