Asia-Pacific markets opened on a subdued note as investors weighed the potential impact of US President Donald Trump’s tariffs on corporate earnings and awaited key economic data from Wall Street this week. Traders are also keeping a close eye on developments in trade negotiations between the U.S. and regional economies.

In South Korea, the Kospi index slipped 0.62 per cent, while futures for Hong Kong’s Hang Seng index were at 22,188. Australia’s S&P/ASX 200 bucked the trend, rising 0.66 per cent, while Japanese markets remained closed for a public holiday.

Meanwhile, US futures are trading slightly below the flatline following a late-session rally in regular trading. The Dow Jones Industrial Average staged a strong comeback, recovering over 350 points from its session lows to close in positive territory. The S&P 500 extended its winning streak to five consecutive sessions, its longest since last November. The Nasdaq, after a steep decline of as much as 1.1 per cent earlier in the day, clawed back most of its losses to end slightly lower.