Following three days of global market unrest reminiscent of the early stages of the Covid-19 pandemic, Asian stocks demonstrated resilience on Tuesday. Despite escalating trade tensions due to President Trump’s tariffs, the region’s markets showed signs of recovery.
The Chinese government implemented measures to stabilize its stock market before trading began. Consequently, Hong Kong’s share prices, which had plummeted by 13.2% the previous day, rebounded with a 2% increase. Mainland China’s benchmarks also recovered slightly from the prior day’s significant losses.
In Japan, the Nikkei 225 index gained 6%, recovering some of the previous day’s losses after Treasury Secretary Scott Bessent announced plans to discuss tariffs with the Japanese government. South Korea’s Kospi index rose by approximately 1.5%. These market movements came in response to President Trump’s recent announcement of new tariffs, which have prompted retaliatory measures from other countries.
— new from The New York Times