Asian markets showed mixed performances on Tuesday, with Japan’s Nikkei 225 surging more than 6% in early trading, rebounding after a sharp 8% decline the previous day.
In contrast, markets in Thailand and Indonesia plunged as they reopened following holidays. In Jakarta, trading was temporarily halted when the JSX index plummeted over 9%; it was still down 7.5% by midday. Thailand’s SET index dropped 5.7%.
Taiwan’s Taiex fell 4.4%, dragged down by heavy losses in Taiwan Semiconductor Manufacturing Co. (TSMC)—the world’s leading chipmaker. TSMC shares slid 4% on Tuesday and have now fallen 13.5% since President Trump announced his “liberation day” tariffs last week.
Hong Kong’s Hang Seng managed a modest rebound, gaining 1.6% to close at 20,140.78. However, this was far from recouping the 13.2% slump on Monday—its worst day since the 1997 Asian financial crisis. Meanwhile, the Shanghai Composite rose 0.9% to 3,124.77.
South Korea’s Kospi inched up 0.1% to 2,331.80, while Australia’s S&P/ASX 200 rose 1.7% to 7,471.10. Markets in both Australia and New Zealand also ended the day higher.
On Wall Street, the Dow Jones Industrial Average fell 0.9% to 37,965.60. The S&P 500 slipped 0.2% to 5,062.25, while the Nasdaq Composite edged up 0.1% to 15,603.26.
In the bond market, U.S. Treasury yields climbed amid optimism that some countries may strike tariff-avoidance deals with President Trump. The yield on the 10-year Treasury note rose to 4.177%, up from 4.009% on Friday.
