Asia markets climb on renewed trade policy focus

February 23, 2026 (MLN): Asia markets advanced on Monday even as global investors assessed fresh tariff uncertainty following remarks by U.S. President Donald Trump about raising global duties.

Over the weekend, Trump said he would lift tariffs to 15% from 10%, a move that followed a landmark ruling by the U.S. Supreme Court, according to CNBC.

The court struck down a significant portion of the administration’s trade measures introduced under the International Emergency Economic Powers Act (IEEPA).

In Asia, South Korean stocks outperformed. The benchmark KOSPI climbed 1.7%, marking its third consecutive session of gains and hitting a fresh record high.

Heavyweights SK Hynix and Samsung Electronics surged more than 3% and 2%, respectively, driving the rally.

The small-cap KOSDAQ added 0.74%, reflecting continued investor appetite for growth-oriented shares.

Australia’s S&P/ASX 200 edged up 0.17% in early trading, while futures tied to Hong Kong’s Hang Seng Index pointed to gains, standing at 26,855 compared with the previous close of 26,413.35.

Markets in China and Japan were closed for public holidays.

In commodities, oil prices turned lower after initial advances. International benchmark Brent crude slipped 0.6% to $71.33 per barrel, while West Texas Intermediate futures declined 0.78% to $65.96 per barrel.

On Friday, U.S. markets rallied after the court’s decision, as investors welcomed potential relief for companies facing elevated input costs due to tariffs and saw reduced risks of prolonged inflationary pressure.

The S&P 500 gained 0.69% to finish at 6,909.51, while the Nasdaq Composite rose 0.9% to 22,886.07.

The Dow Jones Industrial Average advanced 230.81 points, or 0.47%, closing at 49,625.97 after recovering from earlier losses triggered by weaker-than-expected economic data.

While the Supreme Court’s intervention has reshaped the legal pathway for implementing tariffs, market participants remain focused on how aggressively the White House will pursue higher duties in the coming months.

With global trade policy once again at the forefront, investors are likely to remain sensitive to further developments that could influence supply chains, inflation trends, and corporate earnings worldwide.

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