Asia-Pacific markets jump as Trump pauses tariffs on Canada and Mexico

Asia-Pacific markets jump as Trump pauses tariffs on Canada and Mexico


Tokyo Tower, Tokyo’s famous landmark, rises high above the skyscrapers in Azabu, Roppongi and Toranomon districts. A tilt-shift lens was used in order to obtain a miniature effect.

Krzysztof Baranowski | Moment | Getty Images

Asia-Pacific markets rose Tuesday after Donald Trump paused tariffs on Mexico for a month, while Canada also said the U.S. president had put on hold proposed tariffs on its exports.

Japan’s benchmark Nikkei 225 was trading 1.64% higher, while the broader Topix index advanced 1.27%.

South Korea’s Kospi rose 1.77% while the small-cap Kosdaq gained 2.8%.

Hong Kong’s Hang Seng index started the day up 1.63%.

Over in Australia, the S&P/ASX 200 was up 0.35%.

Chinese markets remain closed for the Lunar New Year holiday.

Overnight in the U.S., stocks traded down following Trump’s decision to pause on the tariffs.

The Dow Jones Industrial Average recovered from steep losses during. The 30-stock index was down 122.75 points, or 0.28%, to close at 44,421.91. At its lows of the day, the Dow was down 665.6 points, or 1.5%.

The S&P 500 slid 0.76% to 5,994.57, while the Nasdaq Composite slumped 1.2% to 19,391.96.

— CNBC’s Sean Conlon and Pia Singh contributed to this report.



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