Global markets today: Asian markets opened on a positive note on Wednesday after U.S. President Donald Trump declared a “massive Deal” with Japan, which included a 15% tariff on Japanese exports to the U.S.
Japan’s Nikkei 225 index jumped 1.71 per cent at the start of trading, while the Topix index was up 1.87 per cent.
South Korea’s Kospi gained 0.89 per cent, and the Kosdaq index edged up by 0.22 per cent. Meanwhile, Australia’s S&P/ASX 200 index saw a 0.34 per cent rise.
U.S. President Donald Trump announced on Tuesday that he had finalised the “largest deal ever” with Japan, which includes a 15 per cent tariff on Japanese exports to the U.S.
Posting on Truth Social, Trump stated that Japan has committed to investing $550 billion in the United States, with the U.S. set to receive 90 per cent of the profits from the deal.
He also mentioned that Japan has agreed to open its market to U.S. trade, covering sectors such as automobiles, trucks, rice, various agricultural goods, and more.
U.S. markets today
The S&P 500 rallied to a record closing high on Tuesday, despite sharp losses in General Motors and gains in Tesla, as investors concentrated on the latest and upcoming earnings reports and monitored developments in U.S. trade talks.
The S&P 500 inched up by 0.06 per cent to close at 6,309.62 points. Meanwhile, the Nasdaq slipped 0.39 per cent to 20,892.69 points, and the Dow Jones Industrial Average advanced 0.40 per cent to finish at 44,502.44 points.
Tesla gained 1.1 per cent ahead of its quarterly earnings release, while Alphabet, which is also set to report results on Wednesday, rose 0.65 per cent.
(With inputs from agencies)
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