Asian stock markets exhibited varied performance on Tuesday, as the initial enthusiasm for the 90-day pause in the trade dispute between the US and China diminished, and analysts cautioned that President Donald Trump's stances could swiftly shift.

In a joint statement, the United States announced it would reduce tariffs on Chinese goods to 30% from a peak of 145%, while China indicated its tariffs on U.S. goods would decrease to 10% from 125%. This affords additional time for further deliberations following the weekend's negotiations in Geneva, Switzerland, which the U.S. side characterized as yielding "substantial progress."

The results exceeded the majority of expectations, thereby bolstering investor confidence, according to Stephen Innes of SPI Asset Management.

He said in an analysis that this was clearly planned diplomacy. While the way it looked was good and the results were real, it showed that even this government understands that constant tariffs hurt the economy.

Nevertheless, significant hurdles persist in the ongoing discussions between Beijing and Washington, and numerous Asian nations have not yet secured their own agreements to reduce tariffs.

Beijing's displeasure regarding the trade dispute persists. In a statement to Chinese and Latin American dignitaries on Tuesday, the Chinese leader, Xi Jinping, reiterated Beijing's position that trade wars are unproductive and that "Intimidation or dominance invariably results in self-imposed isolation."

Tokyo's Nikkei 225 index saw a significant surge, climbing 1.6% to reach 38,232.21, with automotive manufacturers experiencing notable increases, including Toyota Motor Corp. rising by 3.7% and Suzuki Motor Corp. advancing by 4.3%.

Nissan Motor Co.'s stock price increased by 3.4% following reports from Japan's national broadcaster, NHK, that the company intends to dismiss over 10,000 employees, bringing the total number of job cuts to 20,000 as part of its ongoing restructuring initiatives. The corporation was expected to release its financial performance data for the previous fiscal year later on Tuesday.

South Korea's Kospi index remained largely stable, closing at 2,606.46.

Hong Kong's Hang Seng index, which had risen by 3% the previous day following the announcement by Chinese and U.S. officials of an agreement to halt and potentially reduce tariffs, experienced a 1.5% decline, dropping to 23,189.15, primarily due to substantial selling pressure on technology stocks.

The Shanghai Composite index subtly increased by 0.2%, reaching 3,376.22, while Taiwan's Taiex saw a significant 1% rise.

The S&P/ASX 200 in Australia advanced by 0.5%, reaching 8,274.70.

On Monday, the two largest global economies reached an accord to substantially reduce their reciprocal tariffs.

This rise pushed the S&P 500 index up by 3.3%, so it is now within 5% of its highest point ever, which was in February. It had dropped almost 20% but went up again last month. This happened because people hoped President Donald Trump would lower taxes on imports after making trade deals with other countries.

The main index for many 401(k) accounts is now higher than it was on April 2, which Trump called "Liberation Day." On that day, he announced big tariffs around the world, which started worries about a possible recession caused by his actions.

The Dow Jones Industrial Average saw a significant rise of 2.8%, while the Nasdaq composite experienced a strong surge of 4.3%.

Following a gain on Monday, oil prices experienced a decline, with the U.S. benchmark crude dropping 22 cents to $61.73 a barrel and the international standard, Brent crude, decreasing by 25 cents to $64.72 a barrel.

The U.S. dollar exhibited a broad strengthening on Monday, appreciating against major currencies including the euro, Japanese yen, and Swiss franc. While the dollar subsequently saw a decline against the Japanese yen by early Tuesday, trading at 147.98 compared to 148.47, it simultaneously registered gains against the euro, rising from $1.1088 to $1.1113.

The temporary suspension in U.S.-China trade followed a recent agreement between the United States and the United Kingdom, which will significantly reduce tariffs on numerous U.K. imports to 10%, although its full implementation will take several weeks.

Upcoming economic data, notably concerning inflation and American consumer confidence, may reveal the extent of economic damage attributable to tariff-related uncertainty.

Numerous retailers experienced an upsurge, largely because a significant portion of their merchandise originates from China and other Asian countries, with Best Buy seeing a substantial 6.6% increase and Amazon staging an impressive 8.1% rally.

Smaller U.S. companies, which are more reliant on the health of the domestic economy compared to their larger competitors, experienced significant increases, as evidenced by the 3.4% rise in the Russell 2000 index.

Clothing firms heavily reliant on Chinese suppliers likewise saw gains; Lululemon's stock surged by 8.7%, while Nike's increased by 7.3%.