Asian markets gained in early trading Tuesday, despite fresh threats from President Donald Trump to raise tariffs on imports from China.
Trump on Monday told reporters that the U.S. would raise tariffs against China if President Xi Jinping did not attend the G-20 meeting later this month in Japan. There have been no indications that Xi is planning on skipping the summit, and he is expected to meet with Trump there. Trump also predicted that tariffs would drive China to make a trade deal.
“The China deal is going to work out. You know why? Because of tariffs,” Trump said.
rose 0.3% and Hong Kong’s Hang Seng Index
gained 0.6%. The Shanghai Composite
surged 1.3% and the smaller-cap Shenzhen Composite
jumped 1.9%. South Korea’s Kospi
advanced 0.3%, and benchmark indexes in Taiwan
rose while Indonesian stocks
slipped. Australia’s S&P/ASX 200
Among individual stocks, Japan Steel
rose in Tokyo trading, along with Mitsubishi UFJ
, while Fast Retailing
slid. In Hong Kong, AAC
and Sunny Optical
rose, and LG Electronics
surged in South Korea. BHP
and Beach Energy
advanced in Australia.