Asia-Pacific markets trade mixed after Wall Street's massive rally on U.S.-China trade deal

This is C온라인카지노사이트's live blog covering Asia-Pacific markets.

Asia-Pacific markets traded mixed Tuesday, following Wall Street's massive rally on the back of a between the U.S. and China, which includes a 90-day pause on tariffs and a drop in reciprocal tariffs by 115 percentage points.

Analysts at Japanese investment bank Nomura have now upgraded Chinese equities to a "tactical overweight."

The agreement to temporarily reduce tariffs "came as a significant surprise for markets, and will likely support risk positivity in the near term," Chetan Seth, Asia-Pacific equity strategist at the bank wrote in a Tuesday note.

"While markets have been expecting some reduction in tariffs over the past few days, we think this reduction is much larger than expected and will bring a major relief for global (including Asian) stocks," they added.

Nomura trimmed its overweight stance on India as it rotated into the China stocks.

Hong Kong stocks fell sharply, with the  declining 1.87% — sharpest drop in nearly a month — to close at 23,108.27 while the Hang Seng Tech Index plunged 3.26% to 5,269.66. This was a reversal from the strong gains both indexes logged in the previous session. Meanwhile, mainland China's  index ended the day 0.15% higher at 3,896.26.

Indian markets fell with the benchmark  down 1.27% while the BSE Sensex lost 1.49% as of 1.42 p.m. local time. This is a reversal from the significant gains in the previous session, when Indian markets posted their , following optimism over the .

Over in Japan, the pared gains to 1.43% to end the day at 38,183.26. This marks the benchmark's fourth consecutive positive session. Meanwhile, the broader Topix index advanced 1.10% to 2,772.14, making this its 13th straight day of gains.

South Korea's  closed flat at 2,608.42 while the small-cap Kosdaq added 0.89% to 731.88.

In Australia, the benchmark rose 0.43% to end the day at 8,269.

U.S.  after all three key benchmarks hit their best day since April 9, as investors awaited the release of an inflation report.

, stocks soared as investors' fears of a recession in the U.S., sparked by a trade war with China, were abated after the two superpowers arrived at a deal.

The  surged 1,160.72 points, or 2.81%, and closed at 42,410.10. The 30-stock index ended the session near its highs of the day, with buying enthusiasm remaining strong.

Meanwhile, the broad-based  popped 3.26% to end at 5,844.19, giving it gains of over 20% since its April intraday low at the height of tariff pessimism. The benchmark's year-to-date losses have now narrowed to just 0.6%.

The  added 4.35% and settled at 18,708.34, as the details of the trade deal sent technology stocks with exposure to China — like  and  — higher.

— C온라인카지노사이트's Brian Evans, Yun Li and Fred Imbert contributed to this report.

Japanese and South Korean automakers rally on investors' hope for trade exemptions

Japanese and South Korean auto stocks rallied Tuesday, trailing gains in Wall Street as investors turned hopeful of tariff exemptions on the sector by U.S. President Donald Trump.

led gains among Japanese players, surging 8.34%, thanks in large part to i.

Other Japanese automakers that logged steep increases include , which increased 3.78%, , which rose 3.5% and , which picked up 3%.

Over in South Korea, Kia Corp added 1.41% while Hyundai Motor moved up 0.46%.

Meanwhile, Indian auto stocks declined, in line with the drop in the broader market. fell by 1.21% while dropped by 1.58% and lost 1.87%.

— Amala Balakrishner

Public-private sector collaboration necessary to plug China's supply-demand gap, professor says

In China, there is a sense that national pride calls for the private and state sectors to work together against the backdrop of a world that has "seemingly turn[ed] its back" on the Asian giant and its widening supply-demand gap, Tolani Senior Professor of Trade Policy Eswar Prasad at Cornell University told C온라인카지노사이트's "" Tuesday.

The gap between the production and consumption sides of the economy has been widening for the past few years and led to deflationary pressures, he added.

Though the government is not fully open to the private sector yet, Prasad said that he had "a sense that there is a subtle change in the wind blowing in Beijing ... that if China is going to make it through this very difficult period, especially in its relationship with the US", it would need both the public and private sectors to work together.

However, it remains to be seen "whether the private sector is going to buy it", he added.

- Penny Chen, Neha Hegde

Asian currencies trade mixed as the dollar weakens

Asian currencies traded mixed Tuesday on the back of the U.S.-China trade deal and a weaker dollar.

The U.S. dollar index had declined 0.21% to 101.587 as at 3.26 p.m. Singapore time.

The Japanese yen strengthened 0.4% against the greenback to 147.86 while the Australian dollar appreciated by 0.66% to 0.6412.

Meanwhile, the offshore Chinese yuan strengthened marginally by 0.04% against the dollar to 7.1962.

Elsewhere in the region, the Indian rupee weakened by 0.3% against the greenback to 85.110.

— Amala Balakrishner

Indian stocks plunge, reversing course from strong gains in previous session

Indian stocks plunged Tuesday, with the down 1.08% while the BSE Sensex fell 1.22% as at 12.49 p.m. local time.

This is a reversal from the significant gains in the previous session, when Indian markets posted their following optimism over the .

Among the worst performing stocks were , which lost 3.13%, , which retreated 2.17% and which dropped 2.06%.

— Amala Balakrishner

Asian tech giants trade mixed despite rally on Wall Street

Tech giants traded mixed across Asia-Pacific on Tuesday, despite a rally in tech stocks on Wall Street overnight.

Sharp losses were seen among counters in Hong Kong. Among the worst-performing companies was , which had plunged 5.62% and , which retreated 4.57% as of 12.33 p.m. Singapore time. Declines were also seen in , which dropped 4.25%, , which lost 4.22% and , which fell 4.08%.

and also declined by 3.66% and 2.03% respectively.

Tech counters in other Asian markets were mixed.

In Japan, losses were seen in , which declined 0.44% and , which had dropped 0.54%. Meanwhile, added 1.29% while increased 1.82%.

Over in South Korea, SK Hynix was last seen trading 1.85% higher while Samsung Electronics lost 1.14%.

— Amala Balakrishner

Doubtful about how much U.S.-China trade progress can be made in 90 days: Economist

Trade negotiations between the U.S. and China in the 90-day window, when most tariffs between both countries are on hold, will be complicated, Fred Neumann from HSBC Global Research said.

"How much progress we will make in 90 days, I think is doubtful," he added.

However, it is important that both sides are talking, which can yield business opportunities, the co-head of global research for Asia at told C온라인카지노사이트.

China remains an important market for U.S. companies, with sales amounting to around $700 billion annually. Efforts should be made to boost these sales rather than restricting trade overall, Neumann said.

He cited opportunities for financial, healthcare and software services to grow in China.

Such a move would also act as a bulwark against future trade disruptions, ultimately working in favor of China's interests as well.

- Diane Jorolan, Neha Hegde

Nissan shares surge nearly 6% following job cut reports

Shares in surged as much as 5.95% Tuesday, following reports that the automaker is likely to cut around 20,000 jobs globally.

This is double the number it had flagged previously and is equivalent to around 15% of the company's global workforce, on Monday, citing sources familiar with the matter.

Nissan reported last November that it intends to , following weak sales in the U.S. and China.

Nissan Motor is slated to release its FY2025 earnings later in the day.

— Amala Balakrishner

Hong Kong shares plunge despite rally in Asia markets

Hong Kong stocks plunged Tuesday, reversing course from their strong gains in the previous session.

The was down 1.35% as at 10.30 a.m. local time.

Many major Chinese companies are listed on the index, which is up 15.86% since the start of the year. The losses were broad-based across sectors, led by the technology companies.

Meanwhile, the tech-heavy Hang Seng Tech Index fell 2.19%.

The worst performers on the index were , which declined 6.09%, , which dropped 5.14%, and which retreated 4.41%.

The  shows the day's moves:

— Amala Balakrishner

BOJ may pause interest rate hikes if U.S. economy decelerates

The Bank of Japan might pause its interest rate hiking cycle if the U.S. economy decelerates, according to from its May 1 monetary policy meeting.

A BOJ board member said that it needs to "carefully examine" the impact of U.S. tariff policy on Japan's economy, saying it could lead Japanese firms to conduct excessive cost-cutting, restrain wage hikes and investment "and bring about a hollowing out of industries."

However, another member also said that the BOJ "should not be too pessimistic," and said the banks should stand ready to hike interest rates in response to policy changes in the United States.

— Lim Hui Jie

Spot gold loses shine after U.S.-China trade deal

extended its decline Tuesday as investors bet on a recovery in stocks and riskier assets following the U.S.-China trade deal.

As at 9.31 a.m. Singapore time, the bullion was trading 0.24% lower at $3,225.31 per ounce.

The precious metal — which is a traditional hedge against political and financial instability — declined 2.7% on Monday following the announcement of the trade deal.

Analysts at Citi have slashed their target price for gold to $3,150 per ounce in the next 0 - 3 months. They also expect gold prices to consolidate at around $3,000 to $3,300 per ounce in the coming months.

"Gold prices reached record highs in late April and breached our 0-3month point-price target of $3,500/oz as gold demand fired on all cylinders. As tariff concerns drove a significant part of the last leg higher, gold prices are likely to continue consolidating amid progresses on tariff negotiations," the analysts wrote in a Tuesday note.

— Amala Balakrishner

Australian stocks rise; briefly hit over 2-month high

Australian stocks rose Tuesday, trailing the relief rally on Wall Street following the U.S.-China trade deal.

The 200-stock benchmark pared earlier gains to 0.57% as at 11.20 a.m. Australian Eastern Standard Time, after briefly hitting its highest level since Feb. 21 earlier in the session.

Gains were seen in major miners, with  increasing 1.73%,  adding 2.24% and  adding 2.47%.

China is the largest importer of Australia's mining products, such as iron ore and natural gas.

On the other hand, gold miners tracked declines in gold prices.

Among the worst-performing stocks in the category were Perseus Mining, which plunged by 9.69%, , which decreased by 7.64% and Bellevue Gold, which lost 7.59%. 

— Amala Balakrishner

Japanese stocks climb over 2% in early trade

Japan's  share average rose in early trade Tuesday, extending its gains for the fourth consecutive session.

The benchmark rose 2.17% as at 9.24 a.m. local time.

The best performing stocks in the index include which surged 6.55%, which increased 3.83% and which advanced 4.68%, according to LSEG data.

The broader Topix index added 1.75%, gaining for the 13th consecutive session.

The gains were led by which increased 6.47%, which added 6.3% and which advanced 5.88%.

— Amala Balakrishner

Goldman cuts recession risk to 35% from 45% after Chinese tariff pause

Economists Goldman Sachs cut their estimated risk of a recession in the U.S. to 35% from 45% after President Donald Trump's temporary pause on Chinese tariffs.

"In light of the somewhat smaller hit to GDP growth, the reduced risk of US-China tariffs high enough to cause production disruptions, and the encouraging signal about future tariff policy decisions, we are lowering our 12-month recession probability to 35% (vs. 45% previously)," the firm wrote in a note to clients.

Goldman said the Trump administration is likely to announce other preliminary trade deals over the next few weeks, which might lower the US effective tariff rate slightly further.

— Yun Li, Michael Bloom

Wall Street’s fear gauge falls back to pre-'Liberation Day' levels

The , also known at the Wall Street fear gauge, is back below 20 for the first time since March after the U.S. and China reached a on each other's goods.

The VIX was last near the 19 level on Monday after declining in the last few sessions. The last time the index was under the 20 level was on March 27, when it closed at 18.69, before Trump announced sweeping tariff announcements in early April.

The VIX had reached as high as 60.13 on April 7 as volatility soared on escalating tariff and trade tensions.

The VIX measures the move in call and put options and is considered the market's estimate of expected volatility in the S&P 500 stock index.

— Pia Singh