Asian markets settled mostly higher on Tuesday after President Donald Trump held off from imposing sweeping trade tariffs in his first day in office and announced a national energy emergency in order to end the inflation crisis in the United States. Although, he announced plans to impose 25% tariffs on imports from the two major US trading partners Canada and Mexico starting from February 1 and said tariffs on China could hinge on a deal over TikTok's ownership. Hong Kong shares rose, with property developers in focus after reports that officials are taking steps to stabilize operations at China Vanke Co after liquidity stress and uncertainty over its CEO's whereabouts caused turmoil in the firm's bonds and shares last week. Japanese shares gained with expectations the Bank of Japan will raise its key short-term interest rate at the end of a two-day policy meeting later this week.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,242.62 | -1.76 | -0.05 |
| Hang Seng | 20,106.55 | 180.74 | 0.90 |
| Jakarta Composite | 7,181.82 | 11.08 | 0.15 |
| KLSE Composite | 1,580.46 | 8.12 | 0.52 |
| Nikkei 225 | 39,027.98 | 125.48 | 0.32 |
| Straits Times | 3,795.37 | -12.60 | -0.33 |
| KOSPI Composite | 2,518.03 | -2.02 | -0.08 |
| Taiwan Weighted | 23,300.01 | 33.19 | 0.14 |
