Shares in Asia were mixed overnight as worries crept back following a Wall Street rally that came after US president Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his trade war.
The Nikkei (^N225) rose 0.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.1% in Hong Kong. The Shanghai Composite (000001.SS) was flat by the end of the session and South Korea’s Kospi (^KS11) lost 0.1%.
It came as Tan Jing Yi of Mizuho Bank called Trump’s policy announcements “headline turbulence,” saying that global economies could be hurt in the long run.
“Sentiments swing from hopes of intense relief to inflicted economic gloom,” he said.
On Wall Street, US stocks rose in a worldwide rally on Wednesday. The Dow Jones Industrial Average (^DJI) finished up 1.1pc at 39,606.57. The S&P 500 (^GSPC) rose 1.7% to 5,375.85, while the tech-heavy Nasdaq (^IXIC) index jumped 2.5% to 16,708.05.
In the bond market, US Treasury yields dropped during trade after Trump said he has no intention to fire the Fed’s chairman and that his tariffs could come down on China imports. However, by the evening they were roughly flat.
At close: 23 April at 17:15:59 GMT-4