Global markets today: Kospi, ASX 200 trade mix following China's benchmark rates

Global markets today: Asian markets showed a mixed trend on Monday, with investors closely monitoring the People’s Bank of China’s upcoming decision on the 1-year and 5-year loan prime rates for July, along with recent trade-related developments.

South Korea’s markets opened on a positive note, with the Kospi index rising 0.45 per cent, while the Kosdaq remained unchanged.

Meanwhile, Australia’s S&P/ASX 200 benchmark also traded flat. Japanese markets were shut due to the Marine Day public holiday.

Trump's tariffs returned to the focus over the weekend after the White House reaffirmed its stance on tariffs.

U.S. Commerce Secretary Howard Lutnick said on Sunday that August 1 is the "firm deadline" for countries to begin paying tariffs, while also noting that dialogue could still continue beyond that date.

The S&P 500 and Nasdaq Composite ended nearly flat on Friday, bouncing back from a brief decline sparked by a Financial Times report that U.S. President Donald Trump was advocating for significant new tariffs on European Union goods.

The S&P 500 slipped by just 0.57 points, or 0.01 per cent, to close at 6,296.79, while the Nasdaq Composite inched up 10.01 points, or 0.05 per cent, to settle at 20,895.66. Meanwhile, the Dow Jones Industrial Average dropped 142.30 points, or 0.32%, to finish at 44,342.19.

A report by the Financial Times stating that the Trump administration was considering setting a minimum tariff of 15 per cent to 20 per cent in any agreement with the European Union initially pushed markets down, though they later partially rebounded.

The S&P 500 and Nasdaq have repeatedly reached new record highs in recent weeks, as investors grew less concerned about Trump's tariff threats and more confident that these policies might not harm the U.S. economy as much as initially expected.

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