Most Asian stocks rose today, rebounding from the previous session’s losses despite US President Donald Trump’s tariff policy and threats of even higher levies against China.
Japan’s Nikkei surged over 6 per cent after US President Trump and Japan Prime Minister Shigeru Ishiba agreed to open trade talks in a phone call yesterday. China’s Shanghai Composite Index advanced almost 1.6 percent, and Hong Kong’s Hang Seng Index increased 1.5 percent, regaining some ground amid stronger regional markets and government-led support after they suffered a brutal sell-off in the previous session triggered by concerns over trade tariffs. South Korea’s Kospi added 0.26 percent. Earlier, South Korea’s Finance Minister Choi Sang-mok said that the government would implement the best possible measures to mitigate the impact of US tariffs partly by closely monitoring the responses of other major countries. Conversely, Singapore’s Straits Times index slipped two per cent, extending its downward slide.
Meanwhile, major European indices were trading higher. London’s FTSE 100 rose 2.1 percent, Germany’s DAX advanced 1.7 percent, and France’s CAC 40 was trading over one and a half percent up when reports last came in.