Japanese Car Giants Boost Asian Stock Markets After Tariff Pause News

The Tokyo Stock Exchange pointed upwards in Tuesday's initial trading, after USA's President Donald Trump on Monday announced a possible pause for his tariffs on vehicles.

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Japanese Car Giants Boost Asian Stock Markets After Tariff Pause News
Photo: Hiro Komae/AP/TT

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The Nikkei 225 index was up 0.9 percent when investors took lunch, with Japanese car giants Toyota and Honda up 4.8 and 4.9 percent respectively. The broader Topix index pointed to a plus of 1.1 percent.

In South Korea, the Kospi index was simultaneously up 0.8 percent.

In China, the trade was not as optimistic. The Hong Kong Stock Exchange's Hang Seng fluctuated around zero, while Shanghai and Shenzhen's composite index pointed to minus 0.2 and 0.3 percent respectively.

US President Donald Trump said on Monday that he is investigating possible temporary exemptions from his tariffs on imported vehicles and vehicle parts to give car companies more time to set up production in the USA. Even American car giants such as General Motors, Ford, and Stellantis rose significantly on Wall Street after the announcement.

Trump's comment could potentially mean relief for car manufacturers suffering from his tariffs on imported cars and light trucks, but creates further uncertainty around his tariff plans.

The US leading stock indices closed on a plus on Monday, with the Dow Jones up 0.8 percent, Nasdaq's composite index up 0.6 percent, and the broad S&P index up 0.8 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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