Asian markets cautious amid renewed U.S.–China trade tension

Asian equities traded mixed as investors balanced optimism from U.S. futures gains with renewed worries over trade friction. Taiwan and South Korea rose on semiconductor strength, while Japan’s Nikkei edged lower post-holiday. The MSCI Asia ex-Japan index hovered flat after a volatile session. Traders expect more clarity on policy after the next U.S. CPI print. Export-driven markets remain particularly sensitive to headlines from Washington and Beijing as uncertainty clouds near-term growth.