Global markets today: Asian markets mostly rose on Tuesday following U.S. President Donald Trump’s announcement of significant tariffs on 14 trading partners, including Japan and South Korea.
Starting August 1, goods exported to the U.S. from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia will be subject to a 25% tariff, as stated in the letters shared by Trump on Truth Social.
Japan’s Nikkei 225 index rose by 0.36 per cent in early trading, while the broader Topix index edged higher by 0.31 per cent.
Meanwhile, South Korea’s Kospi gained 0.44 per cent, and the smaller Kosdaq index saw a modest increase of 0.19 per cent. Futures for Hong Kong’s Hang Seng index were at 23,886, indicating a slightly lower opening compared to the previous close of 23,887.83.
In Australia, the S&P/ASX 200 index fell by 0.44 per cent. The Reserve Bank of Australia is anticipated to lower interest rates by 25 basis points to 3.6 per cent at the conclusion of its two-day policy meeting later today.
(This is a developing story)
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