Asian markets mixed as U.S.-Vietnam tariff deal unfolds

July 03, 2025 (MLN): Asian stocks traded mixed on Thursday as Vietnamese equities surged to their highest level in over three years, with investors eyeing the details of a newly announced U.S.-Vietnam trade agreement.

Vietnamese stocks climbed after U.S. President Donald Trump revealed a tariff deal between the two nations.

The U.S. is imposing a 20% tariff on goods imported from Vietnam, while Vietnam will apply a “ZERO Tariff,” Trump announced on Truth Social.

The development comes ahead of the expiration of Trump’s 90-day tariff reprieve, as CNBC reported.

The benchmark Vietnam Index rose 0.3%, reaching its highest level since April 2022, according to data from LSEG.

Elsewhere in the region, Japan’s benchmark Nikkei 225 slipped 0.15%, and the Topix lost 0.21%.

South Korea’s Kospi gained 0.77%, while the small-cap Kosdaq rose 0.5%.

Australia’s S&P/ASX 200 added 0.13%. Hong Kong’s Hang Seng index declined 0.64%, whereas mainland China’s CSI 300 edged up 0.14%.

U.S. stock futures were little changed as traders awaited June’s key jobs report.

Futures tied to the S&P 500 and Nasdaq 100 were marginally higher, while Dow Jones Industrial Average futures rose 21 points, or less than 0.1%.

Overnight on Wall Street, markets closed mixed.

The S&P 500 marked a new all-time intraday high and closed at a record.

The Nasdaq Composite advanced 0.94% to a record close of 20,393.13.

The Dow Jones Industrial Average slipped 10.52 points, or 0.02%, ending at 44,484.42.

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