Asian Equities Gain as Tariff Timeline Raises Sentiment – Asia Market Wrap
Asian shares rose on Friday as markets responded positively to signals that reciprocal US tariffs could take weeks to take effect, bolstering the potential of negotiations to make them less onerous.
A benchmark of Asian shares rose for the third day in a row, as US market index futures edged higher. That came after the S&P 500 soared towards a record on Thursday, helping propel a global share index to an all-time high. European futures contracts traded lower. The South Korean won and yen rose, while the dollar index remained near a two-month low.
The boost for equities implies that investors are focussing on speculation that the talks would mitigate the impact of the tariffs, similar to the reaction to delays imposed on Canada and Mexico earlier this month. The Dollar Spot Index has fallen nearly 2.5% from its February peak as investors abandon wagers that Trump is set to raise global tariffs as part of his “America First” program.
Howard Lutnick, Trump’s candidate to oversee the Commerce Department, stated that the work required to impose reciprocal tariffs will be done country by country and might take until April to finish.
