South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian stocks surged on Tuesday after U.S. President Donald Trump postponed planned tariffs on Canada and Mexico, easing immediate trade war concerns. The delay provided a relief rally following Monday’s steep declines triggered by Trump’s initial tariff announcement.
Trump had announced a 25% tariff on imports from Canada and Mexico, alongside a 10% levy on Chinese goods, effective February 4. However, after discussions with Canadian and Mexican officials, he agreed to delay the tariffs on Mexico and Canada by 30 days, reducing the risk of supply chain disruptions and offering a potential window for further negotiations.
Japan’s Nikkei 225 rose 1.5%, while TOPIX gained 1.4%. South Korea’s KOSPI jumped 1.8%, rebounding from a multi-week low. Australia’s S&P/ASX 200 edged up 0.4%, and the Philippines’ PSEi Composite rallied 2%. In contrast, Thailand’s SET Index slipped 0.8%. U.S. stock index futures also gained in Asian trade after Wall Street closed lower on Monday.
Chinese markets remained closed for the Lunar New Year holiday and will reopen on Wednesday. Meanwhile, the U.S. tariffs on Chinese imports were still set to take effect, though investors appeared less concerned, expecting future negotiations and potential economic stimulus from China.
Hong Kong stocks soared as optimism around local artificial intelligence (AI) development drove gains. The Hang Seng Index jumped 3%, led by Semiconductor Manufacturing International Corp (SMIC), which surged 7.2%. Chinese tech giants Xiaomi and Alibaba climbed 5% each, reflecting strong investor confidence in AI-driven growth.
With market sentiment improving and trade uncertainties easing in the short term, investors are closely monitoring further developments in U.S.-China trade relations.
