Asia stocks: Nikkei, KOSPI rise tracking Wall St; China, Australia trade data eyed

Investing.com-- Asian stock markets were mixed on Thursday, with most indices tracking overnight gains on Wall Street despite President Donald Trump’s fresh tariff threats, while focus shifted to trade balance figures from China and Australia.

Wall Street ended higher on Wednesday despite Trump’s announcement of 100% tariffs on imported semiconductors, as markets were optimistic on Apple’s (NASDAQ:AAPL) plan to invest an additional $100 billion in U.S. manufacturing.

U.S. stock index futures edged higher in Asian trading on Thursday.

Trump threatens semiconductor tariffs, doubles duty on India

President Trump said on Wednesday that he would impose a tariff of about 100% on imported semiconductors, though products from companies that build chips within the U.S. would be exempt. 

He also issued an executive order adding another 25% import tariff on goods from India, citing the country’s ongoing imports of Russian oil.

The increase brings total U.S. tariffs on certain Indian products to 50%, ranking among the steepest imposed on a trading partner.

However, risk appetite remained modestly strong, taking cues from overnight gains on Wall Street.

South Korea’s KOSPI index rose 0.5%, while Singapore’s Straits Times Index gained 0.6%.

Japan’s Nikkei 225 climbed 0.7%, while the broader TOPIX index traded 0.8% higher.

Investors cautiously assessed the impact of these developments on economic growth, inflation, leading to marginal moves in other markets.

China’s Shanghai Composite index edged 0.1% lower, while the Shanghai Shenzhen CSI 300 fell 0.3%.

Hong Kong’s Hang Seng index also edged down 0.1% on Thursday.

Futures for India’s Nifty 50 edged 0.1% higher a day after the country’s central bank held interest rates steady as expected.

Trade data from Australia, China in focus

Data on Thursday showed that Australia’s trade balance rose to a bigger-than-expected surplus in June as exports rebounded from a sharp drop in the prior month, while imports shrank.

Investors await the Reserve Bank of Australia’s interest rate decision due next week, where the central bank is expected to cut rates again.

Australia’s S&P/ASX 200 traded 0.2% lower.

Investors also await China’s trade balance figures for July due later in the day, which will provide insights into the impact of U.S. tariffs on exports.