Asian Stocks Rise After Trade Court Strikes Down Trump Tariffs

By Ronnie Harui

Asian stock markets rose Thursday morning after a federal trade court struck down President Trump's global tariffs.

Japan's Nikkei Stock Average rose 1.2%, South Korea's Kospi added 1.1% and Australia's S&P/ASX 200 was 0.3% higher.

"Naturally [the ruling] has been seen as good news by investors who remain concerned of the detrimental impact of the U.S. economy from the tariffs," said StoneX senior market analyst Matt Simpson.

U.S. stock-index futures climbed, with eMini S&P 500 futures rising 1.4%, eMini Nasdaq 100 futures adding 1.7% and eMini Dow futures up 1.0%.

"Wall Street futures have had an uncharacteristically strong start to the Asian session on Thursday, after President Trump's tariffs have come to a screeching halt," Simpson said.

The Court of International Trade on Wednesday ruled that Trump didn't have the authority to impose sweeping tariffs on virtually every nation, voiding the levies that have sparked a global trade war. The White House could appeal the ruling and seek an emergency stay to halt it while the litigation proceeds.

Major government bonds, gold, the yen and the Swiss franc fell on a possible flight out of safe-haven assets spurred by the trade court's decision.

The 10-year yield on Treasurys rose 3 basis points to 4.5116%, the 10-year yield on Japanese government bonds edged 1 basis point higher to 1.525%, and the 10-year yield on Australia's sovereign notes was up 3 basis points at 4.3660%.

Gold slipped 0.85% to $3,259.91 per troy ounce. The dollar climbed 0.7% against the yen and the franc.

Write to Ronnie Harui at [e-mail]

(END) Dow Jones Newswires

05-28-25 2108ET