Tokyo Tower, Tokyo’s famous landmark, rises high above the skyscrapers in Azabu, Roppongi and Toranomon districts. A tilt-shift lens was used in order to obtain a miniature effect.
Krzysztof Baranowski | Moment | Getty Images
Asia-Pacific markets rose Tuesday after Donald Trump paused tariffs on Mexico for a month, while Canada also said the U.S. president had put on hold proposed tariffs on its exports.
Hong Kong’s Hang Seng index was up 2.83% in its last hour of trade, as China slapped tariffs on U.S. imports, in retaliation to the U.S. duties on its exports. China levied tariffs of up to 15% on U.S. imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars from the U.S.
This move comes just as Trump’s additional 10% tariff across all Chinese imports into the U.S. came into effect at 12:01 a.m. ET on Tuesday.
Chinese markets remain closed for the Lunar New Year holiday.
Japan’s benchmark Nikkei 225 ended 0.72% higher at 38,798.37, while the broader Topix index advanced 0.65% to 2,738.02.
South Korea’s Kospi rose 1.13% to end the day at 2,481.69 while the small-cap Kosdaq gained 2.29% to close at 719.92.
Australia’s S&P/ASX 200 closed flat at 8,374, erasing earlier gains.
India’s benchmark Nifty 50 was up 1.19%, while the BSE Sensex index rose 1.12% as of 1.pm local time.
Overnight in the U.S., stocks traded down following Trump’s decision to pause tariffs.
The Dow Jones Industrial Average recovered from steep losses during. The 30-stock index was down 122.75 points, or 0.28%, to close at 44,421.91. At its lows of the day, the Dow was down 665.6 points, or 1.5%.
The S&P 500 slid 0.76% to 5,994.57, while the Nasdaq Composite slumped 1.2% to 19,391.96.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
