Asian shares decline on concerns over Trump's tariff plans

Asian shares mostly fell on Tuesday due to concerns over President-elect Donald Trump's plans for new tariffs on Mexico, Canada, and China. Japan's Nikkei 225 dropped 1.2%, while South Korea's Kospi fell 0.6%. In contrast, U.S. stocks rose on Monday, with the S&P 500 climbing 0.3% and the Dow Jones Industrial Average gaining 1%. Treasury yields eased after Trump nominated Scott Bessent as Treasury Secretary, which may alleviate deficit concerns. Bath & Body Works saw a significant 16.5% stock increase after reporting better-than-expected profits. Meanwhile, Macy's stock fell 2.2% due to an investigation into hidden delivery expenses.