Asian stocks rose on Tuesday after US President Donald Trump paused tariffs on Canada and Mexico and hinted at a deal over social media platform TikTok.
Trump halted tariffs just hours before they were due to come into force. His reversal followed a weekend announcement of huge levies on Canada, Mexico and China that had rattled markets.
The benchmark Hang Seng index climbed 3.3 per cent on Tuesday, Japan’s exporter-oriented Nikkei 225 index rose 1.6 per cent and South Korea’s Kospi gained 1.7 per cent after the impending tariffs were paused. Taiwan’s benchmark Taiex gained 0.6 per cent. China’s markets are closed for a holiday. US equities had recovered some of their losses overnight.
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