Asia-Pacific markets poised for cautious open as investors assess gains on Wall Street and Trump's tariff plans
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Asia-Pacific markets are set to have a cautious open Tuesday, with investors assessing the record gains on Wall Street and the global impact of U.S. President Donald Trump's tariff policies as his 90-day tariff reprieve is set to expire next week.
U.S. Treasury Secretary Scott Bessent said on Monday that there are "countries that are negotiating in good faith." However, he added that tariffs could still "spring back" to the levels announced on April 2 "if we can't get across the line because they are being recalcitrant."
Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 40,330 while its counterpart in Osaka last traded at 40,250, against the index's Monday close of 40,487.39
Australia's S&P/ASX 200 is set to open marginally lower with futures tied to the benchmark at 8,531 compared to its last close of 8,542.30.
Hong Kong markets are closed for a public holiday.
U.S. stock futures ticked down in early Asian hours after two of the three key benchmarks on Wall Street notched another record close in Monday's session.
Overnight stateside, the broad-based S&P 500 index gained 0.52% and ended at 6,204.95 while the Nasdaq Composite advanced 0.47% and also reached fresh all-time highs, at 20,369.73. The Dow Jones Industrial Average climbed 275.50 points, or 0.63%, settling at 44,094.77.
Monday's rise comes as Canada rescinded its digital service tax in an effort to facilitate trade negotiations with the U.S. That's after President Donald Trump said last Friday that the U.S. was "terminating ALL discussions on Trade with Canada." Initial payments on the tax were set to begin Monday and would have applied to companies such as Google, Meta and Amazon.
— CNBC's Sean Conlon and Pia Singh contributed to this report.
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