Most Asian indexes were mixed on Monday after U.S. President Trump's weekend ultimatum—and subsequent delay—on higher European and smartphone tariffs, while Japanese equities extended their recent rally.

Tech Sellers, Trade Talk Tweaks

Regional technology names, particularly Apple suppliers, slid after Trump threatened a 25% levy on all iPhone and smartphone imports. Friday's U.S. equities weakness carried into Asia, though U.S. futures jumped—S&P 500 futures surged 0.9%—once the tariff hikes were postponed to early July.

Japan's Third Straight Rally

Tokyo's Nikkei 225 rose 0.6% and TOPIX climbed 0.5%, marking a third consecutive gain as markets priced in ongoing U.S.-Japan trade discussions. Japanese ministers are slated to arrive in Washington in early June for the next round of talks—a date you can track on the Economics Calendar API.

Nippon Steel Leads the Pack

Nippon Steel (TYO:5401) outperformed, jumping nearly 4% after Trump voiced support for its $14.9 billion takeover of U.S. Steel. Among Asia's top movers, it ranked highest on your dashboard—courtesy of the Market - Biggest Gainers API—as investors cheered the deal's renewed momentum.

By weaving in real‑time event dates and top‑gainer data, this snapshot captures how policy headlines continue to reshape Asia's market landscape.