Asian markets trade higher in early deals on Tuesday, due to increased risk appetite in the market after President Donald Trump announced a significant trade deal with India, slashing reciprocal tariffs on Indian goods from as high as 50% down to 18%. Stronger than expected sales outlook kindled rally in technology and chip making stocks. Robust US factory activity number, the highest since 2022 spurred the global risk sentiment. Japan’s Nikkei advanced with the strong Wall Street overnight and on advancement in Japan’s export-heavy economy with the softer local currency yen.
Nikkei 225 surged by 2,084.82 points or 3.96% to 54,740.00, Straits Times rose by 40.53 points or 0.83% to 4,932.80, Hang Seng climbed by 27.72 points 0.10% to 26,803.29, KOSPI Index soared by 297.24 points or 6.01% to 5,246.91, Taiwan weighted widened by 536.85 points or 1.70% to 32,160.88, Jakarta Composite jumped by 124.49 points 1.57% to 8,047.22 Shanghai Composite increased by 26.94 points or 0.67% to 4,042.69, and FTSE Bursa Malaysia KLCI index added by 5.61 points or 0.32% to 1,746.49.
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