In Asia, stock markets showed a mixed performance on Tuesday, with Chinese stocks declining following a strong rally on Wall Street driven by optimism about the Trump administration potentially taking a more focused approach in imposing new tariffs on imported goods next week.

US futures dipped slightly while oil prices remained stable.

In Asian trading, Tokyo's Nikkei 225 rose by 0.3% to 37,733.22, whereas South Korea's Kospi dropped by 0.5% to 2,617.11.

Hong Kong's Hang Seng index fell by 2.2% to 23,387.86, with tech-related shares experiencing significant selling pressure.

Shares of Xiaomi in Hong Kong decreased by 5.4%, while Meituan saw a 4.2% drop, and Alibaba was down by 3.4%. The Shanghai Composite slipped by 0.2% to 3,364.05.

Meanwhile, Taiwan's Taiex increased by 0.6% and Thailand's SET declined by 0.2%.

The markets have been reacting to the uncertainty stemming from President Trump's announcements and subsequent revisions of tariff plans. Trump's upcoming round of tariffs slated for April 2 has injected unpredictability in the markets, with speculations on possible reciprocal tariffs and concerns about a trade war impacting economic growth and inflation.

Despite Monday's favorable performance in US markets—S&P 500 up by 1.8%, Dow Jones up by 1.4%, and Nasdaq up by 2.3%—the S&P 500 has seen a 1.9% decline so far this year. Technology stocks played a significant role in the market rally, with companies like Nvidia and Apple posting gains.

Tesla emerged as the top performer among S&P 500 stocks on Monday, climbing by 11.9%, although it still remains down by about 31% for the year.