South Korean markets reached new peaks on Tuesday, despite U.S. President Donald Trump’s remarks targeting the nation, indicating an intention to raise tariffs on Asia’s fourth-largest economy. Trump stated on Truth Social that the nation’s legislature has not ratified Seoul’s trade agreement with Washington, and that tariffs on South Korea will increase to 25%, up from 15%. The Kospi reversed its losses, achieving a gain of 2.73%, thereby leading Asian markets and reaching an all-time high of 5,084.85.

The small-cap Kosdaq exhibited an upward movement, increasing by 1.71% to reach a level not seen in over four years, now standing at 1,082.59. Automotive giants Hyundai and Kia experienced declines of up to 4% and 5%, respectively, at the market’s opening. However, both companies reduced their losses, with Hyundai last recorded at 0.81% lower, while Kia remained down by 1.1%.

In other regions, markets in the Asia-Pacific exhibited positive performance. Australia’s S&P/ASX 200 experienced an increase of 0.92%, closing at 8,941.6, marking its highest level in nearly three months, following a holiday on Monday. Japan’s Nikkei 225 reversed losses to trade 0.85% higher, concluding at 53,333.54, driven by gains in industrial and tech stocks, while the Topix increased by 0.31% to 3,563.59. Hong Kong’s Hang Seng index experienced a gain of 1.27% during its final hour of trading, propelled by an increase in basic materials stocks. In contrast, the CSI 300 on mainland China concluded the session slightly lower at 4,705.69.

Anta Sports’ shares in Hong Kong experienced a modest increase following the company’s announcement of a $1.8 billion acquisition of a 29.06% stake in the sportswear giant Puma. The equity experienced an increase of 1.57%. Overnight in the U.S., the S&P 500 index advanced by 0.50%, while the Dow Jones Industrial Average experienced a gain of 0.64%. The Nasdaq Composite increased by 0.43%, buoyed by rises of approximately 3%, 2%, and 1% in Apple, Meta Platforms, and Microsoft, respectively, as they approach their earnings reports later in the week.