Global markets today: Asian stock markets rise on easing US-China trade tensions; Nikkei, Hang Seng gain

Global markets today: Asian markets advanced on Thursday, following Wall Street’s positive momentum, as hopes of easing tensions in the U.S.-China trade war boosted investor sentiment.

Japan’s Nikkei 225 gained over 1%, building on the previous day’s rally, while the Topix rose by 0.81%. South Korea’s Kospi remained largely unchanged, whereas the Kosdaq, focused on smaller-cap stocks, edged up 0.34%.

Australia’s S&P/ASX 200 moved higher by 0.27%. Meanwhile, futures for Hong Kong’s Hang Seng index hovered around 22,069, showing little change from its previous close of 22,072.62.

According to preliminary data released on Thursday, South Korea’s GDP shrank by 0.1% in the first quarter of 2025, falling short of the 0.1% growth forecasted in a Reuters poll.

US markets today

Wall Street stocks gained on Wednesday, fueled by renewed optimism about potential progress in the U.S.-China trade conflict and President Donald Trump’s reassurances that he had "no intention of firing" Federal Reserve Chair Jerome Powell, easing concerns about the Fed's independence.

Although all three major U.S. stock indexes trimmed their gains by the close, they had gained momentum earlier in the session after Treasury Secretary Scott Bessent remarked that the high tariffs between the U.S. and China were unsustainable, and Trump indicated a willingness to reduce trade tensions between the two largest global economies.

S&P 500 futures increased by 0.1%, while Nasdaq Composite futures rose by nearly 0.1%. However, Dow Jones Industrial Average futures dropped by 45 points, or 0.1%.

Overnight, the three major indexes ended higher on optimism that U.S.-China trade tensions might soon ease. Additionally, President Donald Trump indicated he does not intend to remove Federal Reserve Chair Jerome Powell from his position.

The Dow Jones Industrial Average gained 419.59 points, or 1.07%, closing at 39,606.57. The S&P 500 rose by 1.67% to finish at 5,375.86, and the Nasdaq Composite surged by 2.50%, settling at 16,708.05. All three indexes achieved consecutive gains.

(With inputs from agencies)

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