Asia-Pacific markets rose Thursday, following Wall Street’s biggest burst of buying since 2008 after U.S. President Donald Trump announced a 90-day pause on higher tariffs on all nations bar China.
In Japan, the Nikkei 225 regained 2,894.97 points, or 9.1%, to 34,609.
In Hong Kong, the Hang Seng gained 417.29 points, or 2.1%, to 20,681,78.
CHINA
In Shanghai, the CSI 300 took on 48.32 points, or 1.3%, to 3,735.11.
The U.S. raised duties on imports from the China to 125% after Beijing announced plans to retaliate with an 84% levy on American goods.
T. Rowe Price’s Wenli Zheng said the jump in tariffs on Chinese exports to the U.S. from over 50% to over 100% is “effectively prohibitive and are likely to cause substantial trade disruptions.”
The impact on China’s overall economy, however, will be less direct, Zheng, who is portfolio manager of the China Evolution Equity Strategy at the asset management house, wrote in a Thursday note.
In other markets
In Singapore, the Straits Times Index rebuilt 184.14 points, or 5.4%, to 3,577.83
In Korea, the Kospi climbed 151.36 points, or 1.7%, to 2,445.06
In Taiwan, the Taiex recovered 1,608.27 points, or 9.3%, to 19,000.03
In New Zealand, the NZX 50 surged 394.89 points, or 3.3%, to 12,201.43
In Australia, the ASX 200 hiked 334.6 points, or 4.5%, to 7,709.55.
