Asian stock markets rise after Trump's tariff delay

Illustration photo: THX/TTXVN

According to CNN (USA), stock indexes in Japan and South Korea recovered positively immediately after the tax postponement announcement.

Specifically, Japan's benchmark Nikkei 225 index jumped 8% in early trading, while South Korea's Kospi index also jumped more than 5%. In Australia, the ASX 200 index also recorded a 5% increase.

The upturn follows a strong recovery on Wall Street, as US stocks rallied following President Trump’s surprise decision, helping to ease recession fears that have weighed on global financial markets in recent days.

The big boost came after Mr Trump announced he would suspend tariffs on most countries for 90 days, with the exception of China – the only country still facing record-high tariffs of up to 125%.

Just minutes after the announcement was posted on the social network Truth Social, the Dow Jones index jumped sharply by about 2,500 points, approaching an 8% increase in the session.

Nasdaq - the largest technology stock exchange in the US - also recorded an impressive increase of 12.2%, marking the best trading session in 24 years.

At the same time, oil prices rose more than 4% and the US dollar also strengthened significantly.

In a post on the social network Truth Social, President Trump said the reason for the decision to postpone the tax was because more than 75 countries had proactively contacted US authorities such as the Department of Commerce, the Department of the Treasury and the Office of the Trade Representative to find ways to resolve trade issues, including tariff barriers, currency manipulation and other non-tariff measures.

Mr. Trump asserted that these countries have not retaliated against the United States, following his strong proposal. Therefore, the United States will suspend the tariffs for 90 days and only impose a milder reciprocal tariff of 10%.

In parallel with easing tariffs for other countries, Mr. Trump announced that he would tighten tariffs on China by raising tariffs to 125%, in order to increase pressure on Beijing to return to the negotiating table.

The move comes amid a global upheaval over President Trump’s new trade policies. His decision came just hours after China announced an 84% tariff increase on US goods, and shortly after US tariffs on most of its trading partners officially took effect.

Source: https://hanoimoi.vn/thi-truong-chung-khoan-chau-a-khoi-sac-sau-dong-thai-hoan-ap-thue-cua-tong-thong-trump-698444.html