People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024.
Jung Yeon-je | Afp | Getty Images
Asia-Pacific markets were mostly higher Thursday, as Wall Street rose overnight after U.S. President Donald Trump postponed tariffs on certain automakers.
Japan’s Nikkei 225 index rose 1%, while the Topix climbed 1.3%. Yields of Japanese government bond yields have surged, with the 10-year Japanese bond yield hitting its highest level since 2009, data from LSEG showed.
South Korea’s Kospi advanced 0.9% while the small-cap Kosdaq fell 0.75%.
South Korea’s consumer inflation for February rose 2% year on year, more than Reuters estimates of a 1.95% increase, and slower than the 2.2% gain in January.
Hong Kong’s Hang Seng Index rose 2.47% at the open while mainland China’s CSI 300 added 0.6% after Beijing on Wednesday announced plans to raise its fiscal deficit to “around 4%” of GDP, a rare increase that marks a meaningful shift in policy.
Australia’s S&P/ASX 200 slipped 0.6%.
The White House on Wednesday announced a one-month delay on tariffs for automakers whose vehicles comply with the United States-Mexico-Canada Agreement. White House spokesperson Karoline Leavitt also said that Trump was “open” to additional tariff exemptions beyond the pause on auto levies.
Overnight in the U.S., the three major averages closed higher. The Dow Jones Industrial Average rebounded 485.60 points, or 1.14%, to finish at 43,006.59, regaining ground after plunging more than 1,300 points over the last two sessions. The S&P 500 added 1.12% to 5,842.63, while the Nasdaq Composite climbed 1.46% to 18,552.73.
—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.
