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Asia-Pacific markets jump as Trump tariff pause boosts investor sentiment

This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets rose Tuesday after Donald Trump paused tariffs on Mexico for a month, while Canada also said the U.S. president had put on hold proposed tariffs on its exports.

Hong Kong's Hang Seng index was up 2.83% in its last hour of trade, as China slapped tariffs on U.S. imports, in retaliation to the U.S. duties on its exports. China levied tariffs of up to 15% on U.S. imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars from the U.S.

This move comes just as Trump's additional 10% tariff across all Chinese imports into the U.S. came into effect at 12:01 a.m. ET on Tuesday.

Chinese markets remain closed for the Lunar New Year holiday.

Japan's benchmark Nikkei 225 ended 0.72% higher at 38,798.37, while the broader Topix index advanced 0.65% to 2,738.02.

South Korea's Kospi rose 1.13% to end the day at 2,481.69 while the small-cap Kosdaq gained 2.29% to close at 719.92.

Australia's S&P/ASX 200 closed flat at 8,374, erasing earlier gains.

India's benchmark Nifty 50 was up 1.19%, while the BSE Sensex index rose 1.12% as of 1.pm local time.

Overnight in the U.S., stocks traded down following Trump's decision to pause tariffs.

The Dow Jones Industrial Average recovered from steep losses during. The 30-stock index was down 122.75 points, or 0.28%, to close at 44,421.91. At its lows of the day, the Dow was down 665.6 points, or 1.5%.

The S&P 500 slid 0.76% to 5,994.57, while the Nasdaq Composite slumped 1.2% to 19,391.96.

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

U.S. private equity fund KKR has reportedly raised its tender offer price on Fuji Soft by 4.2% to 9,850 yen ($63.45) per share, to

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