Asian shares mixed as Trump's tariff deadline looms, while U.S. stocks set records
By TERESA CEROJANO
Asian shares were mixed on Friday after U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump's July 9 tariff deadline.
Japan's Nikkei 225 fell 0.6% to 39,762.20 after earlier gains, while South Korea's KOSPI index was down 1.2% to 3,078.31.
Hong Kong's Hang Seng index lost 0.6% to 23,914.44 while the Shanghai Composite index added 0.4% to 3,475.24. Australia's S&P/ASX 200 rose 0.1% to 8,609.50. India's Sensex index was up 0.1% to 83,288.73.
'Asian markets slipped into Friday like someone entering a dark alley with one eye over their shoulder — because while US equities danced higher on a sweet spotted post-payroll sugar rush, the mood in Asia was far less celebratory. The reason? That familiar, twitchy unease every time Trump gets near the tariff trigger,' Stephen Innes, managing partner at SPI Asset Management, wrote in a commentary.
On Thursday, after a report showed a U.S. job market stronger than Wall Street expected, the S&P 500 rose 0.8% and set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%.
Many of Trump's stiff proposed taxes on imports are currently on pause, but they're scheduled to kick in next week unless Trump reaches deals with other countries to lower them.
In other dealings on Friday, U.S. benchmark crude was down 19 cents to $68.81 per barrel. Brent crude, the international standard, shed 30 cents to $68.50 per barrel.
The U.S. dollar slid to 144.48 Japanese yen from 144.92 yen. The euro edged higher to $1.1771 from $1.1761.
AP Business Writer Stan Choe contributed.
© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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Japan Times
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Diplomacy reinstated Regarding relationships with other countries, Lee is playing catch-up in more ways than one. Diplomacy has largely been put on pause for most of this year due to South Korea's political turmoil. South Korean President Lee Jae-myung, fifth from right, second row, at the G7 Summit in Canada Lee's first major trip came less than two weeks after taking office. He was invited to the G7 Summit in Canada, where he met with international leaders including Japanese Prime Minister Ishiba Shigeru. Many diplomatic experts in South Korea say that diplomacy has been completely restored, as reported in the media and other public forums. It remains unclear exactly what kind of diplomatic approach Lee will pursue. During his speech on day one of office, he called for practical diplomacy centered on national interests. One diplomatic expert said that he was just stating the obvious. The expert has a point: Which leader doesn't consider national interests in their approach to diplomacy? Tokyo-Seoul relations Lee met Japanese Prime Minister Ishiba Shigeru on the sidelines of the G7 summit on June 17. They agreed to further develop bilateral ties. Many Japanese remember that Lee once described Japan as an enemy nation. That statement leaves a question mark over how he will deal with historical issues that have affected bilateral relations for decades. Lee has prioritized relations with the United States, a South Korean ally, but he needs to work with Japan to deal with urgent regional issues, including tariffs. Seoul chairs APEC South Korea will chair the Asia-Pacific Economic Cooperation (APEC) summit this year. Lee hopes to welcome the leaders of the two superpowers, US President Donald Trump and Chinese President Xi Jinping. The summit, which will attract global attention from around the world, will put all eyes on South Korea and Lee's ability to steer his country in a safe and secure fashion. Page 2
