Asia-Pacific Markets Mostly Fall as Investors Assess Trump’s Tariff Plans

Overlooking the city with Busan Tower in Yongdusan Park. Nampo-dong, Busan, South Korea.

Jungang Yan | Moment | Getty Images

Asia-Pacific markets mostly fell Tuesday as investors continued to assess global trade climate after U.S. President Donald Trump deferred 50% tariffs on European Union imports.

Japan's benchmark Nikkei 225 fell 0.19% while the broader Topix index was flat.

In South Korea, the Kospi index declined 0.49%, reversing course from its three-month high in Monday's session, while the small-cap Kosdaq dropped 0.12%.

Mainland China's CSI 300 index retreated 0.56% in choppy trade, while Hong Kong's Hang Seng Index was down 0.3%. China's industrial profits rose 1.4% in April, compared to 0.8% the month before.

Meanwhile, India's benchmark Nifty 50 started the day 0.49% lower, while the BSE Sensex fell 0.63%.

Over in Australia, the benchmark S&P/ASX 200 added 0.33%.

U.S. markets were closed on Monday for the Memorial Day holiday.

U.S. futures jumped as investors welcomed Trump's postponement of tariffs on imports from the European Union.

Dow Jones Industrial Average futures added 407 points, or 1%. S&P 500 futures climbed 1.1%, while Nasdaq 100 futures popped 1.3%.

— CNBC's Alex Harring contributed to this report.