Tokyo’s stock market rallied sharply on Thursday following U.S. President Donald Trump’s announcement of suspension of newly-imposed tariffs.
Japan’s benchmark Nikkei 225 index jumped 2,664.62 points or 8.4per cent, reaching 34,378.65 points about an hour into morning trading.
The surge came after Trump took a step back from his international trade conflict, on Wednesday, announcing a 90-day pause on some tariffs that just came into force.
In spite of the suspension, a universal customs rate of 10 per cent would apply during the three-month break, Trump had said.
Meanwhile, tariffs on goods from Japan’s neighbour, China, were raised further to 125 per cent.
U.S. stocks recorded a sharp recovery on Wednesday.
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