This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets were mixed on Monday after a volatile trading week around the world.
U.S. stocks — which are expected to open lower on Monday — have been on a roller-coaster ride since the start of the month given uncertainty surrounding U.S. President Donald Trump’s tariff policies — and their impact on the superpower’s growth and inflation.
Investors were particularly keeping a watch on the shares of steel manufacturers ahead of U.S. 25% tariffs on steel and aluminum imports, which will kick off this Wednesday.
Japan’s benchmark Nikkei 225 led gains in Asia, rising 0.38% in choppy trade, to end the day at 37,028. The broader Topix index, meanwhile fell 0.29% to close at 2,700, paring earlier gains. The country’s cash earnings rose 2.8% year-on-year in January, slowing from December’s revised 4.4% climb.
South Korea’s Kospi added 0.27%, to end the day at 2,570 while the small-cap Kosdaq fell 0.26% to 725.
Australia’s S&P/ASX 200 rose 0.18% to end the day at 7,962, after closing at a six-month high in its previous session.
Mainland China’s CSI 300 dropped 0.39% to end the day at 3,928.80, while Hong Kong’s Hang Seng Index slipped 1.83% in its last hour.
Over the weekend, China’s consumer inflation dropped below zero for the first time in 13 months due to seasonal distortions and deflationary pressures. The consumer price index declined 0.7% in February from a year earlier, compared with a 0.5% gain in the previous month, data from the National Bureau of Statistics revealed.
The Asian giant on Saturday also announced retaliatory tariffs on some Canadian agricultural goods after Ottawa slapped import duties on Chinese-made electric vehicles and steel and aluminum products last year.
Beijing said a 100% tariff would be imposed on Canadian rapeseed oil, oil cakes and peas, while a 25% levy would be placed on aquatic products and pork originating in Canada.
Over in India, the benchmark Nifty 50 was trading 0.27% higher, while the BSE Sensex climbed 0.24% as at 1.10 p.m. local time.
In the U.S., the three major averages closed higher on Friday after a volatile trading day.
The S&P 500 regained some ground on Friday, but the index still posted its worst week in several months as the salvo of trade policy actions unnerved investors. The broad index rose 0.55% to 5,770.20, while the Nasdaq Composite gained 0.7% to 18,196.22. The Dow Jones Industrial Average added 222.64 points, or 0.52%, to end at 42,801.72.
— CNBC’s Sam Meredith, Alex Harring and Brian Evans contributed to this report.
China’s rapeseed meal futures rise over 5%
China’s Zhengzhou rapeseed meal futures rose more than 5% on Monday, the first trading day after the country imposed retaliatory tariffs on some Canadian agricultural products.
The Chinese government, on Saturday, announced a 100% tariff on Canadian rapeseed oil, oil cakes and peas, as well as a 25% levy on aquatic products and pork originating in Canada.
The measures, which are scheduled to take effect from March 20, came in response to the 100% import tariffs Canada imposed on Chinese-made electric vehicles last year. Ottawa had also applied a 25% tariff on imports of steel and aluminum products from China.
— Amala Balakrishner, Sam Meredith
Hyundai Steel shares fall 8% ahead of U.S. tariffs on steel imports
Shares of Hyundai Steel fell as much as 8.79% on Monday, in the lead up to the White House imposition of a 25% tariff on all steel and aluminum imports starting Wednesday.
The tariffs, coupled with an oversupply of Chinese steel and a downturn in South Korea’s construction sector, have put the steel manufacturer under pressure since the start of the year, The Korean Herald reported last week.
It added that the company is now accepting voluntary layoffs from its technical workers as part of measures to cope with the challenges it is facing.
A spokesperson for Hyundai Steel was not immediately available to comment when contacted by CNBC.
— Amala Balakrishner
Bitcoin plunges over 7%
Bitcoin fell more than 7% to $80,142.75 on Monday, extending recent losses after U.S. President Donald Trump signed an executive order to establish a strategic bitcoin reserve.
Called the U.S. Digital Asset Stockpile, the reserve will be managed by the Treasury Department, and will also hold other confiscated cryptocurrencies.
Estimates show that the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s latest move mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from the reserve, positioning it as a permanent store of value.
— Amala Balakrishner, MacKenzie Sigalos
Cash earnings in Japan climb 2.8% in January
Cash earnings in Japan rose 2.8% year-on-year in January , a slowdown from the revised 4.4% climb seen in December.
However, real cash earnings fell 1.8% compared to the same period last year, its largest fall since February 2024.
A strong increase in cash earnings would support the Bank of Japan’s goal of a “virtuous cycle” of rising prices and wages, which could also afford it more room to raise interest rates.
— Lim Hui Jie
