Asian markets mostly saw gains on Tuesday, buoyed by a positive trend on Wall Street that seemed to overlook U.S. President Donald Trump’s tariff initiatives.

On Monday, Trump officially implemented a 25% tariff on steel and aluminum imports into the United States.

In Australia, the S&P/ASX 200 index rose by 0.18%. South Korea’s Kospi gained 0.66%, with the small-cap Kosdaq increasing by 0.41%.

In Hong Kong, the Hang Seng Index opened up by 0.11%, while mainland China’s CSI 300 experienced a slight decline of 0.17%.

Markets in Japan remained closed due to a holiday.

Attention is also focused on Singapore markets, especially after the benchmark Straits Times Index reached a record intraday peak of 3,910.12 on Monday.

In the U.S., all three major indexes closed on a high note, with leading tech companies performing well. The Dow Jones Industrial Average increased by 167.01 points, or 0.38%, largely driven by a remarkable 4.8% jump in McDonald’s. The index finished at 44,470.41. The S&P 500 rose 0.67%, closing at 6,066.44, while the Nasdaq Composite surged by 0.98%, reaching 19,714.27.

Later today, Federal Reserve Chair Jerome Powell is expected to address Congress.

This report was additionally contributed by CNBC’s Pia Singh and Brian Evans.