Asian Markets Mixed After Wall Street Rebound on Easing Trade Tensions
Asian shares traded mixed on Tuesday after a sharp rebound on Wall Street, following US President Donald Trump’s reassurances over relations with China.
Japan’s Nikkei 225 fell 1.4% to 47,419.87 as trading resumed after Monday’s national holiday. In Hong Kong, the Hang Seng slipped 0.4% to 25,788.44, while China’s Shanghai Composite inched 0.2% higher to 3,897.56.
Elsewhere, Australia’s S&P/ASX 200 edged 0.1% lower to 8,876.20, whereas South Korea’s Kospi gained 0.6% to 3,605.10.
The cautious tone in Asia followed heavy volatility late last week. On Friday, the S&P 500 suffered its worst decline since April, after Trump accused China of being “a moral disgrace in dealing with other nations” and threatened much higher tariffs on Chinese goods.
However, US stocks staged a strong recovery on Monday, recouping more than half of those losses. The S&P 500 rose 1.6% to 6,654.72, its best day since May, while the Dow Jones Industrial Average climbed 1.3% to 46,067.58. The Nasdaq Composite jumped 2.2% to 22,694.61.
Meanwhile, gold extended its record-breaking rally, climbing above $4,100 per ounce as investors continued to seek safety amid persistent geopolitical and trade-related uncertainty.
Silver surged 4.3% on Monday to reach $52.07 an ounce, its highest spot price since records began.
The metal is now within touching distance of its all-time peak of $52.50, traded in 1980 on the Chicago Board of Trade. According to Bloomberg, while today’s price marks the highest level ever recorded for spot silver, it remains just shy of that historic benchmark set more than four decades ago.
US bond markets were closed Monday for the Columbus Day holiday.
