Asia-Pacific markets traded higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto import tariff of 15%, down from 27.5%.
The order also confirmed the agreement for $550 billion of Japanese investments in U.S. projects.
In Japan, the Nikkei popped 438.48 points, or 1%, to 43,018.75, after the country’s July household spending rose 1.4% year over year.
In Hong Kong, the Hang Seng recovered 359.47 points, or 1.4%, to 25,417.98.
Several Asian chip stocks jumped after Trump said Thursday stateside that his administration plans to slap tariffs on semiconductor imports from firms that do not move production to the United States. The comments came ahead of Trump’s dinner with top technology CEOs at the renovated Rose Garden.
Advantest gained 2.14%, while Lasertec popped over 4%. TSMC climbed 1.72%. Shares of South Korean memory chipmaker SK Hynix also rose 3.01%.
In other markets
In Shanghai, the CSI 300 restocked 95.11 points, or 2.2%, to 4,460.32.
In Singapore, the Straits Times index gained 10.25 points, or 0.2%, to 4,307.08.
In Korea, the Kospi gained 16.41 points, or 0.5%, to 3,200.83.
In Taiwan, the Taiex index flew 314.73 points, or 1.3%, to 24,494.58.
In New Zealand, the NZX 50 added 90.33 points, or 0.7%, to 13,223.53
In Australia, the ASX 200 advanced 44.71 points, or 0.5%, to 8,871.23.
