In Hong Kong, the benchmark Hang Seng Index edged up 0.23 percent to close at 21,466.27.
The Hang Seng China Enterprises Index rose 0.21 percent to end at 7,982.88 while the Hang Seng Tech Index fell 0.67 percent to end at 4,981.60.
However, Trump’s unorthodox approach to trade diplomacy continues to fuel uncertainty among investors, with speculation over new levies on high-end technology and pharmaceuticals dampening sentiment.
The announcement last week of exemptions for smartphones, laptops, semiconductors and other electronics – all key Chinese-made products – provided a little comfort, though Trump’s suggestion they would be temporary tempered the optimism.
Traders gave a muted reaction to Treasury Secretary Scott Bessent’s remarks on Monday that a China-US deal could be done in an apparent olive branch as the two economic powerhouses trade tariff threats.
His comments came as Trump has hammered China with duties of up to 145 percent, while Beijing has imposed retaliatory measures of 125 percent.
“There’s a big deal to be done at some point”, Bessent said when asked by Bloomberg TV about the possibility that the world’s largest economies would decouple.
“There doesn’t have to be” decoupling, he said, “but there could be”.
After a broadly positive day on Wall Street, other Asian markets also pushed higher.
Tokyo, Seoul, Shanghai, Sydney, Singapore, Taipei, Mumbai, Manila and Jakarta all rallied, with London and Frankfurt also climbing but Paris edged down.
The gains were boosted by a rally in autos after Trump said he was “very flexible” and “looking at something to help some of the car companies” hit by his 25 percent tariff on all imports. (AFP/Xinhua)
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