Asia markets rise as tariff concerns ease

June 27, 2025 (MLN): Asia-Pacific markets mostly rose on Friday, tracking overnight gains on Wall Street after White House spokesperson Karoline Leavitt downplayed the impending start of tariff deals that have weighed on investor sentiment.

Leavitt stated that “the deadline is not critical,” referring to the so-called liberation day tariffs set to take effect on July 8 after a 90-day pause, and the July 9 deadline for an EU deal to avoid 50% tariffs.

“Perhaps it could be extended, but that’s a decision for the president to make,” she added.

Japan’s benchmark Nikkei 225 surged 1.59% to a six-month high, crossing the 40,000 mark for the first time since January 7, while the broader Topix index gained 1.3%, as CNBC reported.

In economic data, Tokyo’s core consumer price index excluding fresh food and fuel rose 3.1% year-on-year in June, slowing from May’s 3.6% and missing the 3.3% increase forecast by economists polled by Reuters.

In South Korea, the Kospi index fell 0.76%, and the small-cap Kosdaq declined 0.57%.

Hong Kong’s Hang Seng Index inched up 0.1%, while China’s CSI 300 added 0.31% after industrial profits in the first five months of the year dropped 9.1% year-on-year, according to the National Bureau of Statistics.

Australia’s S&P/ASX 200 benchmark was flat.

Meanwhile, U.S. stock futures hovered near the flatline in early Asian trading as investors awaited key economic data, including inflation, personal income, consumer spending, and consumer sentiment.

Overnight in the U.S., the S&P 500 climbed 0.8% to close at 6,141.02, bringing its weekly gain to 2.9% and approaching its all-time intraday high of 6,147.43 set in February.

The Nasdaq Composite rose 0.97% to 20,167.91, also nearing a record high, while the Dow Jones Industrial Average advanced 404.41 points, or 0.94%, to finish at 43,386.84.

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