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Asian markets are booming as a result of Trump's temporary tariff ban and the historic rise in US stocks
Asian Market: The US stock market jumped on Wednesday when President Donald Trump said that he is temporarily stopping the tariffs imposed on most countries for 90 days. Investors were also expecting the same from Trump. After this, a tremendous jump was seen in the stock market.
The Asian market experienced greenery in early trade on Thursday. The near-all stocks experienced an increase. Japan's index recorded over 2,000 points' increase soon after the Tokyo Exchange opened. Investors reacted positively towards US President Donald Trump's move to suspend almost all tariffs for 90 days. In fact, in the wake of Trump's move, US stocks had one of Wall Street's best one-day performances in history on Wednesday. Post this, Asian markets too appeared buzzing on Thursday.
Japan's benchmark Nikkei 225 rose 8.8% to 34,510.86 points in morning trade. Australia's S&P/ASX 200 rose 5.1% to 7,748.00 points. South Korea's Kospi rose 5.2% to 2,412.80 points. Hong Kong's Hang Seng also rose 2.8% to 20,821.48 points, while the Shanghai Composite rose 0.6% to 3,207.35 points. The Hang Seng index declined drastically in the last five days.
The S&P 500 on Wall Street jumped 9.5%. At the beginning of the day, it was worried that Trump's trade war could push the global economy into recession. Then came the post on social media, which investors around the world were waiting for.
