Asian markets closed mixed at the end of trading on Tuesday, September 2nd. Japanese markets rose after days of decline, while Chinese markets declined amid a lack of economic indicators. Investors focused on the meeting of leaders of the Shanghai Cooperation Organization in Tianjin and the assessment of the US court’s ruling on Friday that the tariffs imposed by US President Donald Trump were illegal.
The Nikkei index closed the session at 43,310 points, up 0.29%, or 121 points. The Topix index of the Tokyo Stock Exchange rose by about 0.61% today, closing at 3,081 points. Kirin Holdings and Isetan Mitsukoshi Holdings led the Nikkei gains, rising more than 5%.
Bank of Japan Deputy Governor Himeno indicated that the Bank of Japan should continue raising interest rates, but the uncertainty surrounding the global economy is forcing it to wait a little longer. Some sources reported that Japan is planning an economic package to support households to combat inflation and support companies affected by the tariffs. Chinese indices recorded declines today, with the broader Chinese CSI300 index falling by approximately 0.74% to close at 4,490 points, while the Shanghai Composite Index closed down by 0.45% at 3,858 points.
The Hang Seng Index, the main index of the Hong Kong Stock Exchange, fell by approximately 0.46% today, closing at 25,500 points, with losses in Semiconductor Manufacturing International leading the declines, with a decline of more than 4%.
Conversely, the South Korean Kospi index rose by approximately 0.94% in today’s session, closing at 3,172 points.
The Korean Consumer Price Index, in turn, recorded a rise of 1.7% in August, compared to 2.1% in July, marking the slowest rate of increase since November and below market expectations. India’s Sensex index rose 0.41% before closing at 80,696, while the Nifty 50 index rose 0.43% to trade at 24,731 points.
US President Donald Trump criticized India, noting that it sells us huge amounts of goods, but that we sell them little, and that the relationship is one-sided. He added that India buys most of its oil and military products from Russia and very little from the United States. He also noted that India had offered to reduce its tariffs to zero, but that it was too late and that they should have done so years ago.
New Zealand stock markets closed with gains today, with the NZX 50 index rising 0.48% to close at 13,133, while Australia’s ASX 200 index fell 0.30 points to close at 8,900. Singapore’s main index rose 0.49% in pre-closing trading. Australia’s trade balance recorded a deficit of 13.7 billion Australian dollars in the second quarter of this year, compared to a deficit of 14.7 billion in the first quarter.