Asia Stocks Rise on Hopes for Less Aggressive Trump Tariffs

Asia's shares followed Wall Street's positive lead on Tuesday as some investors hoped U.S. President-elect Donald Trump would adopt less aggressive tariffs than previously thought when he takes office.

The Washington Post reported on Monday that Trump aides were exploring tariff plans that would be applied to every country but only cover certain sectors deemed critical to national or economic security, in what would represent a marked softening from promises Trump had made during the 2024 presidential campaign. While the news initially sent stocks rallying and the dollar falling, Trump's subsequent denial on his Truth Social platform reversed some of the U.S. currency's declines. 'No one really knows for sure what kind of tariffs or trade policies the Trump administration will implement,' said Khoon Goh, head of Asia research at ANZ. 'It's still possible that what the Washington Post reported is true. His officials and aides of course will go through and come up with various options, but ultimately it's up to Trump to decide. 'For now, he is still talking tough on tariffs. But we know from experience from his first term that he is a person that is open to doing deals. I think that's partly why markets at this stage are not reacting too negatively.'The euro and sterling extended gains from the previous session, each rising more than 0.1% to trade at $1.0402 and $1.25395, respectively. China's main stock exchanges asked some large mutual funds to restrict stock selling at the start of the year, three sources familiar with the matter said, as authorities sought to calm markets heading into a tricky period for the world's second-largest economy.Inflation figures from the euro zone later on Tuesday will refine the outlook for more rate cuts from the European Central Bank. Markets are pricing in nearly 100 basis points worth of easing in 2025 for no

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