Stock Market News
Asia report: Markets rally as US trade war fears subside
Markets in Asia rallied on Tuesday as fears of a trade war with a Trump-run United States began to subside, with Tokyo's benchmark leaping almost 2%.
The Nikkei 225 finished ahead 1.79% at 21,417.76, as the yen gave up some of its earlier gains but retained strength against the dollar, last weakening 0.1% to trade at JPY 106.31.
Major exporters were largely higher as the yen strengthened, with carmakers, manufacturing plays and technology firms all above the waterline.
Kobe Steel was ahead, amid reports that CEO Hiroya Kawasaki was preparing to resign after last year's false data scandal.
Energy play JXTG Holdings was also on the winning side of the index, as oil prices held on to gains.
On the mainland, the Shanghai Composite was up 1.02% at 3,290.17, and the smaller, technology-heavy Shenzhen Composite managed to rise 1.17% to 1,852.22.
South Korea's Kospi added 1.53% to 2,411.41, while the Hang Seng Index in Hong Kong leapt 2.09% to 30,510.73.
Technology plays were among the winners in Seoul, with both Samsung Electronics and rival chipmaker SK Hynix recording gains of more than 3%.
Regional oil major CNOOC surged in Hong Kong as oil prices continued to strengthen.
Fears of a trade war were somewhat appeased, after China held back from retaliating from Trump's punitive steel and aluminium tariffs.
The US president also suggested on Twitter on Monday that he would be open to negotiating with his country's closest neighbours over a refreshed North American Free Trade Agreement.
"Investors were relieved that China did not retaliate over the weekend but with President Trump singling out China by calling them 'the biggest problem,'" noted BK Asset Management managing director of foreign exchange strategy Kathy Lien.
"It's only a matter of time before the Asian giant responds."
Oil prices remained strong, with Brent crude last up 0.3% at $65.74 and West Texas Intermediate adding 0.48% to $62.87.
In Australia, the S&P/ASX 200 was up 1.14% at 5,962.40, with all subindices trading in the green for much of the session.
The energy and materials sectors were among the best performing of the 12 categories, while the hefty financials subindex also underpinned gains.
Woodside Petroleum was a standout stock, rising on the back of strong oil price performance.
Across the Tasman Sea, New Zealand's S&P/NZX 50 added 0.6% to 8,327.66, led higher by broadband infrastructure operator Chorus, which extended its rally from a 15-month low reached on 1 March.
Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.35% at AUD 1.2833 and the Kiwi advancing 0.68% to NZD 1.3744.
The Nikkei 225 finished ahead 1.79% at 21,417.76, as the yen gave up some of its earlier gains but retained strength against the dollar, last weakening 0.1% to trade at JPY 106.31.
Major exporters were largely higher as the yen strengthened, with carmakers, manufacturing plays and technology firms all above the waterline.
Kobe Steel was ahead, amid reports that CEO Hiroya Kawasaki was preparing to resign after last year's false data scandal.
Energy play JXTG Holdings was also on the winning side of the index, as oil prices held on to gains.
On the mainland, the Shanghai Composite was up 1.02% at 3,290.17, and the smaller, technology-heavy Shenzhen Composite managed to rise 1.17% to 1,852.22.
South Korea's Kospi added 1.53% to 2,411.41, while the Hang Seng Index in Hong Kong leapt 2.09% to 30,510.73.
Technology plays were among the winners in Seoul, with both Samsung Electronics and rival chipmaker SK Hynix recording gains of more than 3%.
Regional oil major CNOOC surged in Hong Kong as oil prices continued to strengthen.
Fears of a trade war were somewhat appeased, after China held back from retaliating from Trump's punitive steel and aluminium tariffs.
The US president also suggested on Twitter on Monday that he would be open to negotiating with his country's closest neighbours over a refreshed North American Free Trade Agreement.
"Investors were relieved that China did not retaliate over the weekend but with President Trump singling out China by calling them 'the biggest problem,'" noted BK Asset Management managing director of foreign exchange strategy Kathy Lien.
"It's only a matter of time before the Asian giant responds."
Oil prices remained strong, with Brent crude last up 0.3% at $65.74 and West Texas Intermediate adding 0.48% to $62.87.
In Australia, the S&P/ASX 200 was up 1.14% at 5,962.40, with all subindices trading in the green for much of the session.
The energy and materials sectors were among the best performing of the 12 categories, while the hefty financials subindex also underpinned gains.
Woodside Petroleum was a standout stock, rising on the back of strong oil price performance.
Across the Tasman Sea, New Zealand's S&P/NZX 50 added 0.6% to 8,327.66, led higher by broadband infrastructure operator Chorus, which extended its rally from a 15-month low reached on 1 March.
Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.35% at AUD 1.2833 and the Kiwi advancing 0.68% to NZD 1.3744.
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