Asian stocks were mixed on Tuesday, following Samsung's upbeat fourth-quarter earnings and Wall Street's lower close as US President Donald Trump formally withdrew the US from the Trans-Pacific Partnership (TPP) trade deal. Withdrawing from the TPP agreement was a promise Trump had made in his presidential campaign, saying it would protect American workers. The 12-nation trade deal was negotiated by former President Barack Obama's administration as a key pillar in his pivot to Asia.
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Meanwhile, Trump also told business leaders on Monday that his administration could cut regulations by 75 percent or "maybe more" although further details were not given. "Investors are nervous due to Trump's protectionism policies and their hope is that his tax cut policies could perhaps save the day for them," said Naeem Aslam, chief market analyst at ThinkMarkets, in a note on Tuesday.
The Dow Jones industrial average slipped 0.14 percent to close at 19,799.85, while the S&P 500 fell 0.27 percent at 2,265.2 and the Nasdaq closed down 0.04 percent at 5,552.94. In South Korea, the Kospi slipped 0.19 percent, after initially trading higher.
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