Closing Bell 1st July: ASX edges higher as tech and real estate lift; SGH, HMC under pressure

Asia-Pacific markets mixed as investors weigh Wall Street rally and looming U.S. tariff decisions

Asia-Pacific equities traded mixed on Tuesday as investors digested record highs on Wall Street and monitored developments surrounding U.S. President Donald Trump’s tariff policies, with a 90-day reprieve set to expire next week.

U.S. Treasury Secretary Scott Bessent noted some countries were negotiating in good faith but warned tariffs could “spring back” to previously announced levels if talks stall.

China’s CSI 300 index was flat, with the Caixin/S&P Global manufacturing PMI for June beating expectations at 50.4 versus the 49 forecast by Reuters.

Japan’s Nikkei 225 slipped 1% after hitting an 11-month high in the prior session, while the broader Topix fell 0.8%. In South Korea, the Kospi advanced 1.41% and the Kosdaq rose 0.65%.

India’s Nifty 50 edged up 0.21%, while the BSE Sensex was little changed.

Hong Kong markets remained closed for a public holiday.

Investors continue to weigh the potential impact of renewed U.S. tariffs on global trade sentiment, with uncertainty clouding the near-term outlook across Asian markets.