Gold Rebounds, Asian Stocks Rise to Their Highest Level Since April – Asia Market Wrap

Asian equities recovered from their worst selloff in more than two months, with gold and silver prices rising after Monday’s turmoil, and technology sectors rallying.

The MSCI Asia Pacific Index surged 2.8%, its best day since April, when markets rallied from their lows after Trump announced century-high tariffs. South Korean stocks, a poster child for AI and the world’s best-performing index this year, rose 6.3%, with Samsung up 10% and SK Hynix up 7.3%.

Meanwhile, Australian bonds fell and the currency climbed as the central bank boosted its benchmark interest rate to battle inflation. Indian equities rose 2.8% after Trump announced that he will reduce tariffs on India to 18% after PM Modi promised to cease purchasing Russian energy, easing tensions between the two countries. The Rupee strengthened versus the Dollar.

Gold surged as high as 4.2%, while silver rose 8.1%, recouping some losses following the rapid unwinding of a record-breaking run that had drove prices considerably lower over the previous two sessions.

Amid the Asian tech surge, Chinese internet firms fell in Hong Kong on Tuesday, citing concerns that they could face more value-added tax.