Asian Markets Respond Positively to Tariff Pause

Following the announcement by United States President Donald Trump to temporarily halt tariffs on Mexico and Canada, markets across the Asia-Pacific region experienced a significant uptick. This decision came after both countries committed to enhancing border security measures, alleviating concerns of an impending trade war.

Market Movements Across the Region

Australia's S&P/ASX 200 saw an increase of 0.43% by 3:13 am CET. Shortly after, South Korea's Kospi Composite surged by 1.84%. Hong Kong's Hang Seng and Japan's Nikkei 225 also enjoyed gains, rising by 2.54% and 1.66% respectively at 3:14 am CET. Meanwhile, Chinese mainland markets remained closed in observance of the Lunar New Year.

Currency Fluctuations

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