Asia-Pacific markets surged in early trade following U.S. President Donald Trump’s stunning reversal on most reciprocal tariffs.
Japan’s Nikkei 225 jumped 8.48 per cent to reach 34,403, while Australia’s S&P/ASX 200 rose 4.70 per cent to 7,721.7. Singapore’s SGX Nifty was up by 3.4 per cent at 23250, while Hong Kong’s Hang Seng traded in the green at 21,126, up 4.25 per cent. South Korea’s Kospi also gained 5.05 per cent to touch 2,409.
Even though the U.S. slapped increased the tariffs on China to whooping 125 per cent following China’s 84 per cent retaliatory tariffs, the SSE Composite Index in China was up 1.5 per cent at 3,235.