Asian stocks cheer Trump's delay of some China tariffs

TOKYO: Asian stocks joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for markets gripped by political and economic turmoil.

The surge in U.S. stocks lifted MSCI's broadest index of Asia-Pacific shares outside Japan by 0.8per cent. Uncertainty around political risks such as the unrest in Hong Kong also continue to keep investors on edge. The year-long tariff dispute between the world's biggest economies has already disrupted global supply chains and slowed economic growth.

"And while the tensions in Hong Kong are not a main caliber theme for all markets, their negative impact has been multiplied as they have taken place simultaneously with developments in Argentina." In volatile trading, the yen retreated to 106.980 per dollar overnight before finding its footing. On Monday, the Japanese currency had brushed a seven-month peak near 105.000.

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