Insights

NEW YORK/SINGAPORE, Jan 21 (Reuters) - Financial markets swayed and wobbled at the beginning of Donald Trump 's second U.S. presidency after he made a softer start on China than many had anticipated, but then signaled punitive tariffs on North American neighbours within hours. A wave of relief that swept across markets - as his speech and slew of executive orders imposed no new trade levies - was stopped in its tracks when Trump told reporters in the White House's Oval Office that he was thinking about 25% tariffs on Mexico and Canada from Feb. 1. The dollar, which had slipped, reversed course to hit five-year highs on its Canadian counterpart. Hong Kong shares rose , battery stocks fell and the trading day was a neat reminder of both the rollercoaster that markets rode through Trump's first term and how, this time, investors feel more sanguine about the risks. "Prepared remarks and what's off the cuff - both of them will move markets," said Tai Hui, chief market strategist in Asia at J .P. Morgan Asset Management, at a briefing in Singapore.