TOKYO (Reuters) – Japan’s Nikkei share average jumped on Thursday as worries about the economic impact of U.S. tariffs receded after President Donald Trump declared an immediate 90-day tariff pause for many countries.
At 0023 GMT, the Nikkei was up 8.8% at 34,492.05. .
The broader Topix rose 7.9% to 2,534.89.
In a stunning reversal, Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending U.S. stocks rocketing.
The Nikkei’s rally followed surges on Wall Street overnight, with the S&P 500 soaring 9.5% for its biggest daily gain since 2008.
Uniqlo-brand owner Fast Retailing jumped 8%. Toyota Motor was up 9.4%. Chip-related shares surged, with Tokyo Electron and Advantest advancing 12% and 15%, respectively.
(Reporting by Junko Fujita; Editing by Eileen Soreng)
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