Bombay Gate of India, Mumbai
Arutthaphon Poolsawasd | Torque | Getty Images
Asia-Pacific markets rallied on Tuesday after US President Donald Trump announced that Washington and India would begin reducing tariffs on each other’s goods immediately after reaching a trade deal.
Trump added that Indian Prime Minister Narendra Modi had agreed to increase purchases of US products, a Truth Social post reported Monday following a phone call between the two leaders.
Under the deal, India will also stop buying Russian crude and instead buy more from the US and Venezuela, Trump added.
of Japan Nikkei 225 It added 2.44%, while the Topix added 1.94%. South Korea’s Kospi rose 3.2%, while the smaller Kosdaq rose 2.32%.
Hong Kong Hang Seng index futures were 26,775.57 above the benchmark’s last close of 26,953.
Australian S&P/ASX 200 increased by 1.3%. Economists polled by Reuters expect Australia’s central bank to raise its policy rate.
Investors will continue to monitor gold and silver prices after volatility in gold and silver prices plunged nearly 30% last Friday, marking the metal’s worst one-day performance since 1980. Gold also fell by almost 10%.
Spot gold was last up about 2.22% at $4,769.33 an ounce, while silver was up about 3.81% at $82.39 an ounce.
U.S. stocks rose overnight as Wall Street kicked off a new month of trading, with investors focusing on silver and recent losses in silver. bitcoin.
The Dow Jones Industrial Average reached 1.05% and closed at the level of 49,407.66, while S&P 500 increased by 0.54% and was set at the level of 6,976.44. The Nasdaq Composite also rose 0.56% to end at 23,592.11.
— CNBC’s Sean Conlon and Fred Imbert contributed to this report.