—Asian stock markets mostly advanced Tuesday after President Trump unveiled his three-week extension to negotiate trade agreements, spurring mild hopes for deals following punishing U.S. tariffs. Japan’s Nikkei 225 index gained 0.3%, and Hong Kong’s Hang Seng gained 1%. China’s benchmark Shanghai Composite gained 0.7%.

Japan, South Korea, Malaysia and Kazakhstan will face 25% import duties starting Aug. 1, while goods from Laos and Myanmar will face a 40% tariff.

Asian stock markets swung between gains and losses at Tuesday's open, as investors worked to assess a fresh wave of tariff threats from U.S. President Donald Trump, targeting 14 US trading partners.