Asia-Pacific equities gained ground on Tuesday, defying ongoing friction between China and the United States over trade agreements.
Japan’s Nikkei rose 0.51% in the morning session, while Australia’s ASX200 gained 0.67%. Shanghai Composite rose slightly by 0.14% and Hang Seng Index jumped nearly 1%.
Korea’s stock exchange is closed for election day. Thailand’s SET Index also closed on holiday as well.
China firmly rejected the latest U.S. allegations that it breached the terms of a recent interim trade pact. Instead, Beijing pointed the finger at Washington, accusing it of failing to meet its commitments—a sign that talks are becoming increasingly strained between the world’s top two economic powers.
Elsewhere, Brussels criticized President Donald Trump’s plan to increase U.S. steel tariffs to 50%, arguing such action would “undermine” the current EU-U.S. dialogue. A spokesperson for the European Union indicated the bloc stands ready to implement retaliatory measures if necessary.
U.S. markets finished in positive territory overnight. The S&P 500 gained 0.41% to close at 5,935.94, while the Nasdaq Composite advanced 0.67%, ending the session at 19,242.61. The Dow Jones Industrial Average rose by 35.41 points, or 0.08%, to finish at 42,305.48.
