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Asia-Pacific markets were mixed on Monday after a volatile trading week around the world.
U.S. stocks — which are expected to open lower on Monday — have been on a roller-coaster ride since the start of the month given uncertainty surrounding U.S. President Donald Trump’s tariff policies — and their impact on the superpower’s growth and inflation.
Investors were particularly keeping a watch on the shares of steel manufacturers ahead of U.S. 25% tariffs on steel and aluminum imports, which will kick off this Wednesday.
Japan’s benchmark Nikkei 225 led gains in Asia, rising 0.57% in choppy trade. The broader Topix index, meanwhile rose 0.22%. The country’s cash earnings rose 2.8% year-on-year in January, slowing from December’s revised 4.4% climb.
South Korea’s Kospi added 0.47%, while the small-cap Kosdaq increased 0.48%.
Australia’s S&P/ASX 200 rose 0.2%, after closing at a six-month high in its previous session.
Hong Kong’s Hang Seng Index slipped 1.69%, while mainland China’s CSI 300 dropped 0.7%.
Over the weekend, China’s consumer inflation dropped below zero for the first time in 13 months due to seasonal distortions and deflationary pressures. The consumer price index declined 0.7% in February from a year earlier, compared with a 0.5% gain in the previous month, data from the National Bureau of Statistics revealed.
The Asian giant on Saturday also announced retaliatory tariffs on some Canadian agricultural goods after Ottawa slapped import duties on Chinese-made electric vehicles and steel and aluminum products last year.
Beijing said a 100% tariff would be imposed on Canadian rapeseed oil, oil cakes and peas, while a 25% levy would be placed on aquatic products and pork originating in Canada.
In the U.S., the three major averages closed higher on Friday after a volatile trading day.
The S&P 500 regained some ground on Friday, but the index still posted its worst week in several months as the salvo of trade policy actions unnerved investors. The broad index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72.
— CNBC’s Sam Meredith, Alex Harring and Brian Evans contributed to this report.
