Asia-Pacific Markets Trade Mixed After Trump Delays EU Tariffs

Asia-Pacific markets traded mixed as investors reacted to U.S. President Donald Trump's announcement to delay the imposition of 50% tariffs on European Union imports until July 9, following discussions with EU officials. This extension has provided temporary relief to markets, with gains in Japan's Nikkei and South Korea's Kospi contrasting declines in Hong Kong's Hang Seng and mainland China's CSI 300. However, uncertainty remains due to Trump's ongoing trade war threats, including potential 25% tariffs on smartphones not manufactured in the U.S., which weighed on investor sentiment globally. U.S. markets closed Monday for Memorial Day after a disappointing Friday session where major indexes fell, reflecting concerns about trade tensions and fiscal policy impacts on the national deficit. Meanwhile, Australian logistics software company WiseTech Global's shares surged over 5%, driven by its $2.1 billion acquisition of U.S.-based cloud computing firm E2Open, aimed at expanding its global footprint despite recent corporate governance concerns. Overall, the market atmosphere remains cautious as investors navigate trade policy volatility and geopolitical uncertainties.