Elizabeth Quay in Perth City
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Asia-Pacific markets mostly rose investors assessed the Shanghai Cooperation Organization meeting of leaders in Tianjin, with tariff uncertainty weighing on sentiment.
This comes after a U.S. federal appeals court on Friday ruled that most of President Donald Trump’s global tariffs are illegal.
Japan’s Nikkei 225 rose 0.31%, while the broader Topix index added 0.28%.
Over in South Korea, the Kospi index increased by 0.45%, while the small-cap Kosdaq moved up 0.14%. The country’s consumer price index rose 1.7% in August from the year before, after increasing by 2.1% the month before. This marks its slowest year-on-year rise since November and is marginally weaker than the 2% rise forecast by economists in a Reuters poll.
Australia’s S&P/ASX 200 was down 0.41%.The country’s current account balance for the April to June quarter is expected later in the day. Economists polled by Reuters expect a deficit of 16 billion Australian dollars ($10.49 billion), compared to the AU$14.7 billion deficit the quarter before.
Futures for Hong Kong’s Hang Seng index stood at 25,463, pointing to a weaker open compared with the HSI’s last close of 25,617.42.
U.S. equity futures were little changed in early Asia hours at the start of what has historically been a seasonally poor month for equities, following new uncertainty about tariffs after the court decision.
U.S. markets were closed Monday for the Labor Day public holiday.
— CNBC’s Yun Li, Pia Singh and Alex Harring contributed to this report.
