This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets rose Tuesday following gains on all three Wall Street benchmarks overnight, despite mounting global trade frictions.
China pushed back against the U.S.’ accusations that it had violated a temporary trade agreement. Instead, the Asian powerhouse blamed Washington for failing to uphold the deal — a sign that negotiations between the world’s two largest economies are deteriorating.
Meanwhile, the European Union criticized U.S. President Donald Trump’s intention to double steel tariffs to 50%, saying that such a move “undermines” its own negotiations with the U.S. An EU spokesperson said that the bloc was “prepared to impose countermeasures.”
Japan’s Nikkei 225 benchmark moved up 0.36% at the open, while the broader Topix index was flat.
In Australia, the S&P/ASX 200 benchmark added 0.19%. Economists polled by Reuters estimated the country’s seasonally adjusted current account balance for the first quarter of 2025 – expected to come later in the day – to hit a deficit of 13.1 billion Australian dollars ($8.51 billion), from the 12.5 billion deficit in the previous quarter.
Futures for Hong Kong’s Hang Seng index stood at 23,138, pointing to a flat open compared to the HSI’s close of 23,157.97.
Separately, a Reuters poll forecast that China’s Caixin Manufacturing PMI will reach 50.6 in May, from 50.4 in the month before.
South Korean markets were closed for polling day.
U.S. futures were little changed after the major averages on Wall Street began June’s trading on a positive note.
Overnight stateside, the S&P 500 climbed 0.41% to close at 5,935.94, while the Nasdaq Composite advanced 0.67% and ended at 19,242.61. The Dow Jones Industrial Average added 35.41 points, or 0.08%, settling at 42,305.48.
— CNBC’s Lisa Kailai Han and Sean Conlon contributed to this report.