Asia-Pacific markets traded mixed Tuesday as investors assessed the record gains on Wall Street and the global impact of U.S. President Donald Trump’s tariff policies as his 90-day tariff reprieve is set to expire next week.

U.S. Treasury Secretary Scott Bessent said on Monday that there are “countries that are negotiating in good faith.” However, he added that tariffs could still “spring back” to the levels announced on April 2 “if we can’t get across the line because they are being recalcitrant.”

Japan’s Nikkei 225 benchmark fell 0.58% after hitting an over 11-month high in its previous session, while the broader Topix index declined by 0.29%.

In South Korea, the Kospi index rose 1.16%, while the small-cap Kosdaq added 0.62%.

Over in Australia, the S&P/ASX 200 increased by 0.25%.

Hong Kong markets are closed for a public holiday.

— CNBC’s Sean Conlon and Pia Singh contributed to this report.