TOKYO: Asian shares joined a global equities rally and safe-haven government bonds pulled back on Wednesday, after Washington delayed tariffs on some Chinese imports in much-needed relief for markets gripped by political and economic turmoil.
"President Trump did delay the tariffs and while this is positive for equities, the markets will remain wary of the tariffs still being implemented come December," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management. The yen stood at 106.450 per dollar, having lost more than 1per cent overnight when it recoiled from a seven-month high near 105.000 brushed at the week's start.
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