Asian Markets Rise Despite Tariff Uncertainty; South Korea’s Kospi Hits Record High
Seoul: Asia-Pacific stock markets moved higher on Monday despite fresh uncertainty over global trade after U.S. President Donald Trump announced an increase in global tariffs to 15% from 10%.
South Korea’s benchmark Kospi index led regional gains, rising 1.7% to hit a new record high, marking its third consecutive session of advances. Major technology stocks drove the rally, with SK Hynix gaining over 3% and Samsung Electronics climbing more than 2%. The small-cap Kosdaq index also rose 0.74%.
Regional Markets Show Strength
Other Asian markets also traded in positive territory. Hong Kong’s Hang Seng index surged more than 2%, while Australia’s S&P/ASX 200 edged up 0.17% in early trading. Markets in China and Japan remained closed due to public holidays.
The gains came even as investors assessed the implications of Trump’s decision to raise tariffs, following a U.S. Supreme Court ruling that struck down key elements of his earlier trade measures under the International Emergency Economic Powers Act.
Economists noted that while the court’s ruling limits some tariff powers, the broader tariff framework remains intact, and trade tensions could continue to influence global markets.
Crypto and Oil Prices Decline
In contrast to equity markets, Bitcoin fell more than 3% to drop below $65,000, reflecting investor caution amid global economic uncertainty. Analysts said the cryptocurrency’s decline reflected broader risk sentiment rather than crypto-specific developments.
Oil prices also declined, with Brent crude falling 0.6% to $71.33 per barrel and U.S. West Texas Intermediate crude slipping 0.78% to $65.96 per barrel, reversing earlier gains.
Wall Street Ends Higher
U.S. markets closed higher on Friday following the Supreme Court ruling, which provided some relief to investors concerned about rising costs linked to tariffs.
The S&P 500 rose 0.69%, the Nasdaq Composite gained 0.9%, and the Dow Jones Industrial Average advanced 0.47%, recovering from earlier losses during the session.
Tariff Policy Continues to Influence Markets
Market experts said the latest tariff developments highlight ongoing uncertainty in global trade policy. While some countries have secured trade agreements with the United States, concerns remain about future tariff increases and their impact on economic growth.
Despite these concerns, strong performance in technology stocks and optimism in key regional markets helped Asian equities maintain upward momentum at the start of the week.
