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Asian stocks ended mostly higher on Tuesday as traders evaluated the potential turbulence in the trade tariff environment following the U.S. Supreme Court's ruling on reciprocal tariffs. It is believed that a uniform 15 percent tariff, announced by U.S. President Donald Trump, would benefit some Asia-Pacific economies that have faced much steeper tariff rates earlier. But the uncertainty may worsen if the Trump administration continues imposing new tariffs under alternative laws. On Monday, Trump warned countries against backing away from recently negotiated trade deals, saying that he would hit them with much higher duties under different trade laws. Gold prices retreated from a three-week high in Asian trade due to an uptick in the U.S. dollar index. Oil prices edged up on supply concerns as Trump reiterated his preference for a deal with Iran but warned of consequences if upcoming nuclear talks fail. China's Shanghai Composite index jumped 0.87 percent to 4,117.41 as the People's Bank of India kept its benchmark lending rates unchanged for a ninth straight month to maintain currency stability. The yuan rose to a near three-year high after the U.S. court tariff reprieve. China has called on the United States to rescind unilateral tariffs and warned of countermeasures after Trump announced a new 15 percent global tariff. Powered by Capital Market - Live News
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