Asia Stock Markets Update: Mixed Trading Today

Waterfront city skyline of Sydney city downtown at night with bright illumination of modern architectural landmarks in Sydney, Australia.

Asia-Pacific markets traded mixed on Monday after U.S. President Donald Trump confirmed that \"reciprocal\" tariffs, first announced in April, will take effect on Aug. 1 for countries that haven't struck a deal.

Trump added in a separate announcement Sunday that an additional 10% tariff would be charged to countries \"aligning themselves with the anti-American policies of BRICS\" without elaborating. His announcement came as the BRICS bloc of developing countries gathered in Rio de Janeiro, Brazil, for a two-day summit.

Earlier on Sunday, Treasury Secretary Scott Bessent said that tariffs introduced in April will be enforced starting August 1 for countries that haven't finalized an agreement with the Trump administration. While Bessent dismissed the notion that August 1 represents a fresh deadline, he acknowledged that the new date could allow trading partners additional time to renegotiate tariff terms.

Japan's benchmark Nikkei 225 slipped 0.56% to close at 39,587.68 while the Topix declined 0.57% to close at 2,811.72. South Korea's Kospi added 0.17% to end the trading day at 3,059.47 and the small-cap Kosdaq closed 0.34% higher at 778.46.

Australia's S&P/ASX 200 slid 0.16% to end the day at 8,589.3.

Hong Kong's Hang Seng index lost 0.61%, and mainland China's CSI 300 dipped 0.43% to 3,965.17.

The Reserve Bank of Australia kicks start its two-day meeting, where it is widely expected to cut rates by 25 basis points to 3.60%.

According to the source: CNBC.