Asia-Pacific markets traded higher on Tuesday, following a strong performance on Wall Street as market participants bought into tech companies as risk sentiment improved.
The gains came after United States President Donald Trump temporarily paused tariffs on key consumer electronics, easing investor concerns.
By 11 am AEST (1 am GMT), Australia’s S&P/ASX 200 rose 0.3%, South Korea’s Kospi 200 advanced 0.6%, and Japan’s Nikkei 225 gained 1.2%.
Despite the market optimism, data showed that consumer confidence in Australia weakened. The ANZ-Roy Morgan Consumer Confidence index fell 2.6 points last week to 84.2.
ANZ Economist Sophia Angala attributed the decline to a “more pessimistic global backdrop following U.S. tariff announcements”.
Meanwhile, the U.S. Commerce Department issued notices overnight indicating it would launch investigations into the national security implications of imports of semiconductors, semiconductor manufacturing equipment, pharmaceuticals, and pharmaceutical ingredients, including finished drug products.
Among U.S. markets, the Dow Jones Industrial Average added 312.1 points, or 0.8%, to close at 40,524.8. The S&P 500 rose 42.6 points, also up 0.8%, finishing at 5,406.0. The Nasdaq Composite increased by 107.0 points, or 0.6%, to end at 16,831.5.
Chinese equities also participated in the rally. The Shanghai Composite rose 0.8% to 3,262.8, while the CSI 300 edged up 0.2% to 3,759.1.
Hong Kong’s Hang Seng Index posted a robust gain of 2.4% to reach 21,417.4.
Indian markets were closed for a public holiday.
In commodities, Brent crude edged up 0.2% to trade at US$64.88 per barrel. Spot gold retreated 0.8% from recent highs, trading at US$3,237.93 per ounce.
European markets closed with significant gains, mirroring optimism seen in other global markets. The UK’s FTSE 100 rose 2.1% to 8,134.3, Germany’s DAX gained 2.9% to 20,954.8, and France’s CAC 40 climbed 2.4% to 7,273.1.
