Asia-Pacific markets trade mixed as investors assess Trump tariffs

Asia-Pacific markets traded mixed Tuesday as investors assessed U.S. President Donald Trump’s tariff campaign.

Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.

Australia’s S&P/ASX 200 traded around the flatline. South Korea’s Kospi rose 0.72%, while the small-cap Kosdaq climbed 0.35%.

Hong Kong’s Hang Seng Index slipped 0.56%, while the mainland China’s CSI 300 dipped 0.36%.

Japan markets were closed for a holiday.

Singapore’s benchmark Straits Times Index slipped 0.44% after it hit an all-time intraday high of 3,910.12 on Monday.

India’s benchmark Nifty 50 was down 0.32%, while the BSE Sensex index traded around the flatline.

Overnight in the U.S., the three major averages closed higher as major tech names outperformed. The Dow Jones Industrial Average added 167.01 points, or 0.38%, led by a 4.8% gain in McDonald’s. The 30-stock index closed at 44,470.41. The S&P 500 gained 0.67% to end at 6,066.44, and the Nasdaq Composite climbed 0.98% to 19,714.27.

Federal Reserve Chair Jerome Powell is slated speak before Congress later in the day.

—CNBC’s Pia Singh and Brian Evans contributed to this report.