(10 Apr 2025)
RESTRICTIONS SUMMARY:
ASSOCIATED PRESS
Seoul – 10 April 2025
1. Various of KOSPI and various points shown on screens in Hana Bank dealing room
STORYLINE:
The South Korean stock market opened sharply higher on Thursday morning after the US decided to temporarily pause reciprocal tariffs, easing tariff woes.
At 0928am on Thursday morning, South Korea’s benchmark Korea Composite Stock Price Index was at 2406.66 – 4.92 percent higher than Wednesday’s close.
Other Asian shares also surged in early Thursday trading, with Japan’s benchmark jumping more than 2,000 points almost immediately after the Tokyo exchange opened, as investors welcomed US President Donald Trump ’s decision to back off on most of his tariffs.
Analysts had expected the regional comeback given that U.S. stocks had one of their best days in history on a euphoric Wall Street Wednesday, where investor hopes had run high that Trump would tone down the tariffs.
On Thursday, Japan’s benchmark Nikkei 225 jumped 8.8% in morning trading to 34,510.86, zooming upward as soon as trading began. Australia’s S&P/ASX 200 soared 5.1% to 7,748.00. South Korea’s Kospi gained 5.2% to 2,412.80. Hong Kong and Shanghai markets were set to open soon. The Hang Seng index has fallen considerably in the last five days, and could be set for a rebound like the other regional indexes.
On Wall Street, the S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.
US Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.
China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products. That raises the possibility of more swings ahead that could stun financial markets. The trade war is not over, and an escalating battle between the world’s two largest economies can create plenty of damage. U.S. stocks are also still below where they were just a week ago, when Trump announced worldwide tariffs on what he called “Liberation Day.”
But on Wednesday, at least, the focus on Wall Street was on the positive. The Dow Jones Industrial Average shot to a gain of 2,962 points, or 7.9%. The Nasdaq composite leaped 12.2%. The S&P 500 had its third-best day since 1940.
The relief came after doubts had crept in about whether Trump cared about the financial pain the U.S. stock market was taking because of his tariffs. The S&P 500, the index that sits at the centre of many 401(k) accounts, came into the day nearly 19% below its record set less than two months ago.
That surprised many professional investors who had long thought that a president who used to crow about records for the Dow under his watch would pull back on policies if they sent markets reeling.
AP video by Yong Jun Chang
===========================================================
Clients are reminded to adhere to all listed restrictions and to check the terms of their licence agreements. For further assistance, please contact the AP Archive on: Tel +44(0)2074827482 Email: info@aparchive.com.
Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Instagram: https://www.instagram.com/APNews/
You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/c9562e4e99884530bae72ee8798283fc
Author: AP Archive
Go to Source
News post in April 15, 2025, 3:05 am.
Visit Our Sponsor’s:
News Post In – News
