Asia-Pacific markets showed mixed movements in trading on Thursday, July 3, 2025, as investors awaited further details on the newly announced trade agreement between the United States and Vietnam, revealed by President Donald Trump.

In Japan, the Nikkei 225 index declined by 0.15%, while the broader Topix index also slipped by 0.21%. Conversely, South Korea’s Kospi index advanced 0.77%, and the Kosdaq—focused on small-cap stocks—rose by 0.5%.

Australia’s benchmark index, the S&P/ASX 200, recorded a modest increase of 0.13%. Meanwhile, Hong Kong’s Hang Seng futures were trading at 24,174, slightly lower than the previous close at 24,221.41.

On the global stage, U.S. stock futures remained relatively flat ahead of the release of the June employment report, which is closely watched by market participants. S&P 500 and Nasdaq 100 futures registered slight gains, while Dow Jones futures rose by 21 points, or less than 0.1%.

In the previous trading session, the three major Wall Street indices ended the day with mixed performances. The S&P 500 reached a new all-time intraday high and also closed at a fresh record level.

The Nasdaq Composite gained 0.94% and ended at a record high of 20,393.13. In contrast, the Dow Jones Industrial Average edged down slightly by 10.52 points, or 0.02%, closing at 44,484.42.

According to CNBC.com, Trump announced that the United States would impose a 20% import tariff on goods coming from Vietnam. In return, Vietnam would apply a 0% tariff on American products.

This announcement comes just before the expiration of a 90-day grace period tied to Trump's previous trade policy. The ongoing uncertainty surrounding the direction of this policy has added pressure to market sentiment across the Asia-Pacific region.