Asian Markets Close Mixed on Tuesday as Investors Stay Cautious on Tariff Concerns

Asian stock markets ended mixed on Tuesday, as investors navigated a volatile session with profit-taking and sectoral rotations shaping the day's performance.

Hong Kong stocks fluctuated throughout the session, with the Hang Seng Index (HSI) closing 0.38% higher, while the Hang Seng Tech Index edged up 0.23%. The China Enterprises Index gained 0.24%. Sectors were divided, with technology stocks mostly rising, pharmaceutical and biotech stocks surging, coal and oil stocks showing strength, while semiconductor stocks weakened. Notably, Xiaomi fell over 5% by the close.

China’s A-shares also experienced a choppy trading day, with the Shanghai Composite Index advancing 0.38%. The biopharmaceutical sector led the gains, reflecting strong investor interest.

South Korea’s KOSPI rebounded 1.62%, after hitting a nearly two-month low in the previous session. Bargain-hunting helped lift the index following three straight days of declines. In economic data, South Korea's March trade surplus widened to $4.99 billion, up from $4.41 billion a year earlier, according to the Korea Customs Service.

Japan’s Nikkei 225 recorded a minor 0.02% gain, adding 6.92 points to 35,624.48. The index initially climbed to 36,052.54, fueled by a technical rebound from the previous sharp sell-off. However, investor caution over upcoming U.S.-China tariff announcements on April 2 limited further gains, as traders turned risk-averse in the latter half of the session.

Meanwhile, Singapore’s Straits Times Index (STI) slipped 0.09%, closing at 3968.85. Malaysia’s stock market remained closed for a public holiday.