Asian stocks saw gains on Tuesday, spurred by the rise in Wall Street, while gold soared to an all-time high and Treasury yields declined, with investors awaiting more information on President Donald Trump's reciprocal tariffs. The Japanese yen strengthened due to demand for traditional safe-haven assets, while the Australian dollar came under pressure following weak local retail sales data, ahead of the Reserve Bank of Australia's policy decision later in the day. Stocks in the region rebounded in April after a challenging March marked by concerns over the potential impacts of Trump's trade policies on the economy. Asian markets are particularly cautious ahead of April 2, termed as "Liberation Day" by Trump, when he is expected to unveil his tariff plan. Major Asian indices, such as Japan's Nikkei, South Korea's KOSPI, and Taiwan's equities, saw gains following previous declines. Despite the S&P 500's rise on Monday, futures indicated a dip, possibly due to rebalancing and uncertainties around Trump's upcoming announcement. Bullion prices surged, hitting a record high for the fourth consecutive session, with investors seeking gold amid concerns over the impact of trade policies on the U.S. dollar. Treasury yields fell, putting pressure on the dollar, which weakened against the yen and the euro. However, the dollar strengthened against some of its top trading partners' currencies.
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