Donald Trump stunned global investors on Wednesday when he announced a 90-day pause in additional tariffs on countries that were willing to negotiate with the US, sending stocks surging as the president backed down from a full-blown trade war.
US equities jumped immediately after Trump’s announcement, with the blue-chip S&P 500 index closing up 9.5 per cent. The rally spread to Asia on Thursday, with Japan’s Topix rising 8 per cent and Taiwan’s Taiex advancing 9.3 per cent.
The Stoxx Europe 600 index was up 5.5 per cent in early trading, while Germany’s Dax rose 8.3 per cent and the FTSE 100 advanced 6.1 per cent.
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