Asian Markets Respond Positively to Tariff Pause

Following the announcement by United States President Donald Trump to delay tariffs on Mexico and Canada, the Asia-Pacific markets experienced a notable uplift. This decision, influenced by the two nations' commitment to enhancing border security measures, has alleviated concerns over an impending trade war.

Market Movements Across the Region

At 3:13 am CET, Australia's S&P/ASX 200 saw an increase of 0.43%. Shortly after, at 3:14 am CET, South Korea's Kospi Composite surged by 1.84%, while Hong Kong's Hang Seng enjoyed a 2.54% rise. Japan's Nikkei 225 also climbed, marking a 1.66% increase at the same time.

It's important to note that the Chinese mainland markets were closed in observance of the Lunar New Year, thus not participating in this upward trend.

Currency Exchange Rate Update

In the currency markets, the dollar strengthened against the yen, trading 0.29% higher at ¥155.1670 by 3:15 am CET.