Asia-Pacific markets opened mixed on January 23, 2025, as investors reacted to recent economic data and ongoing concerns regarding U.S. President Donald Trump's tariff proposals. Following a strong performance on Wall Street, where the S&P 500 reached a record high, the Australian S&P/ASX 200 fell by 0.42%, while Japan's Nikkei 225 gained 0.38%. South Korea's Kospi dropped 0.21%, reflecting a cautious sentiment among investors. The mixed trading pattern was influenced by Trump's suggestion of a potential 10% tariff on China, which has raised uncertainty in the markets. European equity futures indicated a slightly lower cash open, with Euro Stoxx 50 futures down 0.2% after gains in the previous session.