Asia-Pacific markets advanced on Thursday, buoyed by a United States court ruling that blocked President Donald Trump’s broad “reciprocal” tariffs, which had targeted more than 180 countries and territories in April.
As of 11:10 am AEST (1:10 am GMT), Australia’s S&P/ASX 200 rose 0.3%, while South Korea’s Kospi 200 jumped 1.5% and Japan’s Nikkei 225 added 1.3%.
The positive sentiment in South Korea was further supported by a decision from the Bank of Korea to lower its benchmark policy rate from 2.75% to 2.5%.
The move, which brings rates to their lowest level since August 2022, was broadly in line with economists’ expectations and reflects a bid to support domestic economic activity.
The gains in Asia followed a weaker performance overnight on Wall Street. The Dow Jones Industrial Average fell 0.6%, the S&P 500 also dropped 0.6%, and the Nasdaq Composite lost 0.5%, as investors digested earnings results and economic signals.
Commodity prices were mixed. Brent crude rose 1.2% to US$64.34 per barrel, while spot gold eased 0.4% to US$3,288.73 per ounce.
In China, equity markets were subdued. The Shanghai Composite held steady at 3,339.9, while the CSI 300 slipped 0.1% to 3,836.2.
Hong Kong’s Hang Seng Index underperformed, declining 0.5% to 23,258.3.
Elsewhere in the region, India’s BSE Sensex edged down 0.3% to 81,312.3.
European markets ended lower on Wednesday, weighed down by broader global uncertainty. The UK’s FTSE 100 shed 0.6% to 8,726.0, Germany’s DAX dropped 0.8% to 24,038.2, and France’s CAC 40 fell 0.5% to 7,788.1.
