Catenaa, Thursday, March 06, 2025– Most Asian shares were up on Thursday following the rebound in the US stocks after President Donald Trump revised some of his planned tariffs.
On Wednesday, the Trump administration decided to give a one-month exemption for US automakers on his 25% tariffs for Mexican and Canadian imports, raising hopes that a trade war could be avoided.
Trump’s decision saw Tokyo’s Nikkei 225 index gain 283 points or 0.76%, while Japanese automaker Toyota Motor Corp shares surged by 6.47% in the US trading, it fell back in Tokyo trading, losing 1.07%. Honda Motor Corp. gained 2.06% and Suzuki Motor Corp. was up 0.88%.
Hong Kong’s Hang Seng index jumped 2.73% to 24,237.22 following the Chinese annual government meeting that gave way to stimulus measures to boost consumer spending and other domestic demand.
The Shanghai Composite index advanced 1.06% to 3,377.40. South Korea’s Kospi jumped 0.63% to 2,574.30, while the S&P/ASX 200 in Australia slipped 0.57% to 8,094.70 by market close.
On Wednesday, gains for Ford Motor and GM stocks helped lead Wall Street higher.
The S&P 500 rose 1.1% to 5,842.63, while the Dow Jones Industrial Average added 1.3% to 43,006.59. The Nasdaq composite was 1.6% higher, closing up 1.5% at 18,552.73.
Trump said he was granting a one-month exemption for U.S. automakers on his 25% tariffs for Mexican and Canadian imports after talking with Ford, General Motors and Stellantis, which owns Chrysler.
That sent relief through Wall Street, and Ford’s and General Motors’ stock both jumped more than 5% to help lead a widespread rally across the market.
