Asian markets are booming as a result of Trump's temporary tariff ban and the historic rise in US stocks

The Asian market experienced greenery in early trade on Thursday. The near-all stocks experienced an increase. Japan's index recorded over 2,000 points' increase soon after the Tokyo Exchange opened. Investors reacted positively towards US President Donald Trump's move to suspend almost all tariffs for 90 days. In fact, in the wake of Trump's move, US stocks had one of Wall Street's best one-day performances in history on Wednesday. Post this, Asian markets too appeared buzzing on Thursday.

Japan's benchmark Nikkei 225 rose 8.8% to 34,510.86 points in morning trade. Australia's S&P/ASX 200 rose 5.1% to 7,748.00 points. South Korea's Kospi rose 5.2% to 2,412.80 points. Hong Kong's Hang Seng also rose 2.8% to 20,821.48 points, while the Shanghai Composite rose 0.6% to 3,207.35 points. The Hang Seng index declined drastically in the last five days.

The S&P 500 on Wall Street jumped 9.5%. At the beginning of the day, it was worried that Trump's trade war could push the global economy into recession. Then came the post on social media, which investors around the world were waiting for.

Trump said, 'I have currently stopped the tariffs imposed on more than 75 countries for 90 days. We are talking. Treasury Secretary Scott Bessant later told reporters that the US has temporarily halted but maintained its 10% tariff on all global imports. However, China is the exception. Trump has raised tariffs on Chinese products by 125%.

Earlier on Wednesday, the mood on Wall Street was positive at least. The Dow Jones Industrial Average rose 2,962 points, or 7.9%. The Nasdaq Composite jumped 12.2%. The S&P 500 had its third-best day since 1940.