Hong Kong’s Hang Seng index drops over 2% as investors assess Trump tariff threats

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

Hong Kong’s Hang Seng Index fell 2.17%, while the Hang Seng Tech index plunged 3.53% (view post).

Meanwhile, mainland China’s CSI 300 pared losses to 0.19%.

South Korea’s Kospi index lost 0.37% in choppy while the small-cap Kosdaq declined 0.62%.

Over in Australia, the S&P/ASX 200 increased 0.14%. The country’s budget will be tabled by Treasurer Jim Chalmers later in the day.

Japan’s benchmark Nikkei 225 gained 0.46%, while the broader Topix index traded flat.

India’s benchmark Nifty 50 started the day 0.42% higher while the broader BSE Sensex advanced 0.35%.

U.S. futures edged down marginally after the three key Wall Street indexes logged gains overnight.

The Dow Jones Industrial Average jumped 597.97 points, or 1.42%, to end at 42,583.32. The S&P 500 added 1.76% and closed at 5,767.57, while the tech-heavy Nasdaq Composite gained 2.27% to settle at 18,188.59.

Shares of Tesla, which have fallen for nine straight weeks, rose nearly 12%, adding to their Friday gains. Meta Platforms and Nvidia climbed more than 3%.

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