Asian stock markets traded mostly higher on Monday after U.S. President Donald Trump extended the deadline to impose 50% tariffs on European Union goods, offering markets a temporary sigh of relief. The euro also strengthened following the announcement.
Trump’s decision to shift the tariff threat deadline from June 1 to July 9 came after European Commission President Ursula von der Leyen requested more time to negotiate “a good deal.” This delay marked another episode of Trump’s unpredictable trade policy that has kept global markets on edge.
Here’s how major Asian indices performed:
| Index | Price | Change | %Change |
|---|---|---|---|
| Shanghai | 3,358.12 | +9.75 | +0.29% |
| Nikkei | 37,355.22 | +194.75 | +0.52% |
| HSI (Hong Kong) | 23,542.39 | -58.87 | -0.25% |
| Shenzhen | 10,124.75 | -7.66 | -0.08% |
| KOSPI (Korea) | 2,618.8 | +26.71 | +1.03% |
| ASX 200 (Australia) | 8,357.5 | -3.4 | -0.04% |
| Nifty 50 (India) | 24,853.15 | Yet to open | UNCH |
| STI (Singapore) | 3,877.3 | -5.12 | -0.13% |
| NZX 50 (New Zealand) | 12,539.93 | -56.57 | -0.45% |
| SETI (Thailand) | 1,176.36 | UNCH | UNCH |
| Malaysia | 1,534.67 | -0.71 | -0.05% |
| Taiwan | 21,685.55 | +33.31 | +0.15% |
Markets remained cautious despite the bounce, as analysts noted increased capital rotation out of the U.S. and into Asian and European markets amid concerns of a looming U.S. recession and slowing global growth.
Analysts at Brown Brothers Harriman noted, “The tariffs being considered are well above the 20% reciprocal tariff range. The U.S., EU, and China together make up over 60% of global GDP—this level of escalation has far-reaching global implications.”
Meanwhile, Apple shares took a hit last week after Trump threatened a 25% tariff on all iPhones imported into the U.S.
As negotiations continue, investors will remain sensitive to trade headlines and political developments in the coming days.
