Asian markets rally, Japan’s Nikkei jump 10% tracking Wall Street’s record gains; Hang Seng signals 4% higher open
Asian markets opened with strong gains on Thursday, following Wall Street’s biggest one-day rally in years after US President Donald Trump announced a temporary pause on higher tariffs on all nations barring China.
Trump announced an immediate 90-day tariff pause for many countries even as he raised the levy on Chinese imports to 125%.
Japan’ Nikkei surged over 10% at the open, leading gains in Asian markets. The Nikkei index traded 7.38% higher, while the broader Topix index advanced 7.12%.
South Korea’s Kospi index surged 5.4%, while the Kosdaq gained 4.61%.
Hong Kong’s Hang Seng index indicated a slightly weaker open. Australia’s S&P/ASX 200 futures signal a 7% surge in the index at the open. This would make its biggest gain since March 2020.
US Stock Market
US stock market posted its biggest one-day gains in years, with the S&P 500 recording its largest rise since 2008, after Trump’s temporary pause on tariffs.
The Dow Jones Industrial Average surged 2,962.86 points, or 7.87%, to 40,608.45. The S&P 500 gained 474.13 points, or 9.52%, to 5,456.90 for its biggest daily gain since October 2008, during the global financial crisis.
The Nasdaq Composite closed 1,857.06 points higher, or 12.16%, at 17,124.97, for its biggest gain since January 2001, during the dotcom market bubble.
The smallcap Russell 2000 Index added 8.66%, for its biggest one-day jump since March 2020.
Indian Stock Market
Meanwhile, the Indian stock market will remain closed today, April 10, on account of Mahavir Jayanti 2025. Hence, no trading in the equity market will take place today.
The Equity segment, Equity Derivative segment, SLB segment and Currency Derivatives segments will remain shut today. However, the Commodity Derivatives Segment will be closed for the morning session, but will open for the evening session.
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