Nikkei closed the day up 0.29% at 42,310.49 following a volatile trading session, while the broader Topix index increased by 0.61% to 3,081.88. Asia-Pacific markets ended the day with mixed results as investors evaluated the outcomes of the Shanghai Cooperation Organization leaders’ meeting in Tianjin, while tariff uncertainty continued to impact sentiment. A U.S. federal appeals court ruled on Friday that the majority of President Donald Trump’s global tariffs were unlawful.

Trump stated that India had proposed eliminating its tariffs on imports from the U.S. “They have now proposed to eliminate their Tariffs entirely, but time is running out.” Also says “They should have done this years ago.” He remarked that the relationship between the U.S. and India was “one sided.” India’s benchmark Nifty 50 increased by 0.28%, and the BSE Sensex index rose by 0.26% as of 1:40 p.m. Suntory Beverage & Food has garnered attention due to reports of its CEO and Chairman, Takeshi Niinami, resigning amid a police investigation concerning his acquisition of a potentially illegal supplement. The shares of the Japanese producer of soft drinks and wellness food products closed the day with an increase of 2.94%. In South Korea, the Kospi index rose by 0.94% to 3,172.35, and the small-cap Kosdaq gained 1.15% to 794. The consumer price index for the country increased by 1.7% in August compared to the previous year, following a rise of 2.1% in the prior month. This represents the slowest year-on-year increase since November and is slightly below the 2% increase predicted by economists.

The Hang Seng index in Hong Kong decreased by 0.47%, finishing at 25,496.55, while the CSI 300 in mainland China declined by 0.74%, closing at 4,490.45. Australia’s S&P/ASX 200 declined by 0.3%, closing the day at 8,900.60. The Australian Securities and Investments Commission announced that its review panel has levied a fine of $3.88 million Australian dollars ($2.52 million) against a local unit of French lender Societe Generale for not adequately preventing suspicious orders in the electricity and wheat futures markets. A regulatory body investigation revealed that Societe Generale Securities Australia, a major player in the ASX 24 derivatives market, permitted two clients to submit 33 questionable orders from May 2023 to February 2024. The panel noted that the “volatile period” was marked by supply challenges in global energy and wheat markets, influenced by the Russia-Ukrainian War, among other factors.

During the April to June quarter, the country reported a current account balance deficit of AU$13.7 billion, an improvement from the AU$14.7 billion deficit of the previous quarter and better than the AU$16 billion deficit anticipated by economists surveyed by Reuters. Spot gold remained steady at $3,472.79 as of 4:10 a.m., following a peak of $3,503.32 per ounce earlier in the session. The U.S. markets observed a closure on Monday in observance of the Labor Day holiday.