Asian stocks soar amid US tariff delay on some Chinese goods

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Trade in Asian stocks on Wednesday soared after the US announced its delay on a 10% tariff on some Chinese goods.

The Hang Seng Index of Hong Kong, which was suffering as protests persist, has bounced back with a 0.7% increase. Flights are still canceled however as the city’s airport is bugged by protests.

Shanghai Composite has 0.7% rise and Shenzhen Component with a 1.3% climb. Both these stocks are from China.

South Korea’s Kospi grew by 0.9% while Nikkei 225 of Japan has a 0.7% hike.

In other news, crude prices also soared on Tuesday as part of the wide effect of the tariff delay on some Chinese goods.

However, Brent crude oil futures decreased by 0.83% today, costing $60.79 per barrel, on a downward track after it rose to almost 5% in the last trading day.

 

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