Asian stock markets delivered a mixed performance on Monday as uncertainty surrounding U.S. President Donald Trump’s trade tariffs dampened investor sentiment. Trading volumes remained thin due to market holidays in China and Japan, adding to cautious market activity across the region.
Hong Kong’s Hang Seng Index emerged as the top performer, surging 2.7% as bargain hunters stepped in following last week’s sharp declines. Gains were led by technology, industrial, and automobile stocks, with investors targeting companies linked to artificial intelligence growth. Market attention also turned to mainland China, where exchanges are set to reopen after the week-long Lunar New Year holiday, an event that typically boosts economic activity.
South Korea’s KOSPI index climbed more than 1% to reach a record high, supported by strong gains in semiconductor stocks. Samsung Electronics and SK Hynix drove the rally amid growing optimism over AI-driven demand for advanced memory chips. Reports suggesting Samsung could secure a significant supply agreement with Nvidia for high-performance AI memory chips further strengthened sentiment. Nvidia’s upcoming earnings report is also in focus, as the chipmaker remains a bellwether for global AI and semiconductor trends.
Despite positive cues from Wall Street’s previous session—where stocks advanced after the U.S. Supreme Court limited Trump’s ability to impose tariffs under emergency economic powers—markets stayed cautious. President Trump responded by announcing a 10% universal tariff under a separate law and later increased it to 15%. S&P 500 Futures fell 0.7% during Asian trading hours, reflecting lingering concerns over escalating trade tensions.
Elsewhere in Asia, Singapore’s Straits Times Index edged up 0.4%, while Australia’s ASX 200 declined 0.5%. India’s Nifty 50 futures slipped 0.4%. Safe-haven assets such as gold and the Japanese yen attracted stronger inflows as investors weighed the potential impact of renewed U.S. trade tariffs on global markets.


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