Asian markets mostly advanced after China and the United States agreed to a 90-day truce in their ongoing trade dispute.
Japan’s Nikkei 225 surged 1.8% to 38,305.36, driven by strong gains in the automotive sector. Toyota rose 3.9%, Suzuki climbed 4.4%, and Nissan gained 3.6% following reports from NHK that the company plans to cut over 10,000 jobs as part of a broader restructuring effort. Nissan is set to release its annual financial results later today.
South Korea’s Kospi dipped slightly, down 0.1% to 2,605.63.
Hong Kong’s Hang Seng Index, which rallied 3% on Monday after news of the tariff pause, reversed course and dropped 1.4% to 23,210.34 amid a sharp selloff in technology stocks.
Mainland China’s Shanghai Composite inched up 0.2% to 3,376.49, while Taiwan’s Taiex advanced 1% to 21,330.14. Australia’s S&P/ASX 200 rose 0.5% to 8,274.70.
On Wall Street, stocks posted strong gains following the trade truce. The S&P 500 jumped 3.3% to 5,844.19, the tech-heavy Nasdaq surged 4.4% to 18,708.34, and the Dow Jones Industrial Average climbed 2.8% to 42,410.10.
U.S. Treasury yields moved higher on expectations that the Federal Reserve may not need to cut interest rates as aggressively to support employment. The yield on the 10-year note rose to 4.474% from 4.403% the day before.
