Waterfront metropolis skyline of Sydney metropolis downtown at evening with brilliant illumination of contemporary architectural landmarks in Sydney, Australia.
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Asia-Pacific markets traded combined on Monday after U.S. President Donald Trump confirmed that “reciprocal” tariffs, first introduced in April, will take impact on Aug. 1 for international locations that have not struck a deal.
Treasury Secretary Scott Bessent mentioned Sunday that tariffs launched in April will likely be enforced beginning August 1 for international locations that have not finalized an settlement with the Trump administration. Whereas Bessent dismissed the notion that August 1 represents a recent deadline, he acknowledged that the brand new date may permit buying and selling companions extra time to renegotiate tariff phrases.
Japan’s benchmark Nikkei 225 slipped 0.53% whereas the Topix declined 0.57%. South Korea’s Kospi added 0.19% and the small-cap Kosdaq rose 0.16%.
Australia’s S&P/ASX 200 slid 0.11%.
Hong Kong’s Dangle Seng index misplaced 0.61%, and mainland China’s CSI 300 dipped 0.12%.
The Reserve Financial institution of Australia kicks begin its two-day assembly, the place it’s extensively anticipated to chop charges by 25 foundation factors to three.60%.
U.S. inventory futures fell after Trump confirmed that tariffs are set to enter impact Aug. 1, not July 9. Dow Jones Industrial Common futures slid by 146 factors, or 0.32%. S&P 500 futures and Nasdaq 100 futures dipped 0.39% and 0.42%, respectively.
Final Friday stateside, the three main averages closed larger. The S&P 500 and Dow Jones Industrial Common powered to new highs and capped off a successful week as banking behemoths ushered in a promising begin to the third-quarter earnings season. The Nasdaq Composite added 0.33% to complete at 18,342.94 and fewer than 2% under its all-time excessive.
— CNBC’s Samantha Subin and Brian Evans contributed to this report.