Asia-Pacific markets experienced gains on Thursday following an overnight rise in Wall Street after U.S. President Donald Trump postponed tariffs on certain automakers. Japan’s Nikkei 225 index rose by 0.77%, closing at 37,704.93, while the Topix climbed 1.22% to 2,751.41. Japanese government bond yields surged, with the 10-year bond yield reaching its highest level since 2009, according to LSEG data.
South Korea’s Kospi advanced 0.7% to close at 2,576.16, although the Kosdaq fell 1.61% to 734.92. South Korea’s consumer inflation for February increased by 2% year-on-year, slightly above Reuters’ estimates. Hong Kong’s Hang Seng Index rose 2.47% at the open, and mainland China’s CSI 300 added 1.38% to close at 3,956.24 after Beijing announced plans to raise its fiscal deficit to around 4% of GDP, marking a significant policy shift. Australia’s S&P/ASX 200 slipped 0.57% to close at 8,094.7.
The White House announced a one-month delay on tariffs for automakers whose vehicles comply with the United States-Mexico-Canada Agreement, with spokesperson Karoline Leavitt indicating openness to additional exemptions. Overnight, the U.S. Dow Jones Industrial Average rebounded by 485.60 points, or 1.14%, finishing at 43,006.59, recovering from recent losses. The S&P 500 and Nasdaq Composite also saw gains of 1.12% and 1.46%, respectively.
— news from CNBC