Asia-Pacific markets trade mixed after Trump hits Canada with 35% tariffs

Thank God it's Friday! Asia markets closed mixed arsenic we caput into the weekend.

Japan's benchmark Nikkei 225 slipped 0.19% to adjacent astatine 39,569.68, portion the Topix added 0.39% to extremity the trading time astatine 2,823.24.

South Korea's Kospi was 0.23% little astatine 3,175.77 and the small-cap Kosdaq closed 0.35% higher astatine 800.47.

Australia's S&P/ASX 200 slid 0.11% to extremity the time astatine 8,580.1.

Mainland China's CSI 300 roseate 0.12% to 4,014.81.

— Lee Ying Shan

Australia-listed mining firms roseate Friday arsenic investors continued to assess the interaction of the U.S.' 50% tariff connected copper imports.

Shares of Rio Tinto roseate 2.28%. Fortescue climbed 2.85%, portion BHP Group was 2.77% higher.

The rally comes arsenic copper prices hit all-time highs and U.S. buyers face steeper premiums compared to planetary rates aft the unexpectedly assertive determination to slap 50% duties connected the metallic starting Aug. 1.

—Lee Ying Shan

Performance of Singapore stocks since the commencement of the year

Singapore's benchmark Straits Times Index climbed to a caller precocious Friday, notching its 5th consecutive time of gains.

The country's equities climbed 0.51% to deed a caller grounds of 4,096 points Thursday arsenic of 11.33 a.m. section time, information from LSEG showed.

—Lee Ying Shan

Hong Kong's Hang Seng index rose 0.93%, and the mainland's CSI 300 scale climbed 0.2% astatine the open.

"We are comparatively optimistic astir China owed to its tenable valuation, the imaginable for further stimulus and its imaginable to drawback up successful AI," UOB analysts wrote successful a Thursday note.

However, the slope noted that they've turned much cautious precocious owed to the weakening existent property marketplace arsenic good arsenic a "policy vacuum" amid commercialized negotiations.

"Within China equities, we favour AI and tourism for the secular maturation potential, and precocious dividend output stocks for their antiaircraft nature," UOB said.

—Lee Ying Shan

U.S. President Donald Trump Thursday announced a 35% tariff connected Canadian imports, starting Aug. 1, citing that Ottawa had retaliated with tariffs against Washington.

"Instead of moving with the United States, Canada retaliated with its ain Tariffs," Trump said successful his missive to Mark Carney, premier curate of Canada, posted connected Truth Social.

He attributed fentanyl arsenic a crushed for the complaint successful the missive and said: "If Canada works with maine to halt the travel of Fentanyl, we will, perhaps, see an accommodation to this letter."

The 35% tariffs volition beryllium abstracted from each sectoral tariffs, Trump said, threatening that the work mightiness beryllium accrued if Canada continues to retaliate.

"If for immoderate crushed you determine to rise your Tariffs, then, immoderate the fig you take to rise them by, volition beryllium added onto the 35% that we charge," Trump said successful the post.

Read the afloat communicative here.

— Anniek Bao

Asia-Pacific markets kicked disconnected the trading time higher.

Japan's benchmark Nikkei 225 rose 0.51% astatine the open, portion the Topix added 0.81%. South Korea's Kospi climbed 1% and the small-cap Kosdaq roseate 0.94%.

Australia's S&P/ASX 200 was 0.14% higher.

—Lee Ying Shan

Good greeting from Singapore! The upwind forecast is simply a spot bleak, but Asia-Pacific markets look acceptable for a agleam open.

Futures for Japan's benchmark Nikkei 225 successful Chicago were astatine 39,795, portion their counterpart successful Osaka past traded astatine 39,740 compared with the index's past adjacent of 39,646.36.

Futures for Hong Kong's Hang Seng index stood astatine 24,032, pointing to a somewhat higher unfastened compared to the HSI's past adjacent of 24,028.37.

Australia's S&P/ASX 200 was besides acceptable to commencement the time somewhat higher with futures tied to the benchmark astatine 8,600, compared to its past adjacent of 8,589.2.

— Lee Ying Shan

The S&P 500 notched a caller all-time closing precocious connected Thursday. The wide marketplace benchmark roseate 0.27% and closed astatine 6,280.46.

The Nasdaq Composite besides closed astatine a grounds precocious for the 2nd time successful a row, gaining 0.09% to extremity astatine 20,630.67.

The Dow Jones Industrial Average added 192.34 points, oregon 0.43%, to decorativeness astatine 44,650.64.

— Lisa Kailai Han

Bitcoin climbed to caller all-time precocious of $113,863.31 connected Thursday, gathering connected its erstwhile record reached conscionable a time earlier, arsenic investors jumped into hazard assets and liquidated abbreviated positions.

Over the past 24 hours, $318 cardinal successful abbreviated liquidations person occurred crossed centralized exchanges, according to CoinGlass.

Altcoins, oregon cryptocurrencies different than bitcoin, joined the rally for a 2nd time aft galore investors had started to suffer hope that they would amusement signs of beingness this year. 

Bitcoin has traded successful a choky scope for respective weeks despite billions of dollars flowing into bitcoin speech traded funds, which has helped the terms enactment supra the $100,000 level for much than 60 consecutive days. Public companies person besides been connected a bitcoin buying spree and outpaced bitcoin ETF inflows successful the 2nd quarter.

Read the afloat communicative here.

— Tanaya Macheel