Asian stocks advanced after President Donald Trump paused import duties on a range of consumer electronics, lifting sentiment after a volatile week for markets.
Gauges in the region gained along with equity-index futures for the US and Europe as Trump halted some tech levies, though he indicated a specific tariff will be announced in due course.
While stocks got a temporary relief, concerns were building up in other corners of the market about the US economy with the dollar weakening to a fresh low for the year.
Gold, a traditional haven asset, hit a record, indicating market participants still remain wary amid mounting confusion over Trump’s tariff agenda. US Treasury yields edged down across the curve.
The pause on duties on goods from smartphones to laptop computers – most of which are made in China — offers an interim reprieve for markets ravaged by Trump’s flip-flops on trade policy.
Volatility shows little signs of easing after the White House signaled separate duties on tech products, including semiconductor chips, are being planned as Trump tries to rewrite global trade rules that he says aren’t in favor of the US.
