Bombay Gate, gateway to India, Mumbai
Arutthaphon Poolsawasd | Instant | Getty Images
Asia-Pacific markets rose on Tuesday after US President Donald Trump said Washington and India had reached a trade deal and would immediately begin reducing tariffs on each other’s products.
Trump added that Indian Prime Minister Narendra Modi had agreed to step up purchases of American goods, according to an article published Monday by Truth Social following a call between the two leaders.
Under the deal, India will also stop purchases of Russian crude oil and buy more from the United States and potentially Venezuela, Trump added.
from Japan Nikkei 225 added 2.44%, while the Topix added 1.94%. South Korea’s Kospi jumped 3.2%, while the small-cap Kosdaq rose 2.32%.
Hong Kong Hang Seng Index futures were 26,953 above the benchmark index’s last close of 26,775.57.
Australia S&P/ASX200 climbed 1.3%. The Australian central bank should raise its key rate, economists polled by Reuters anticipate.
Investors will continue to monitor gold and silver prices after recent volatility that saw silver prices plunge around 30% last Friday, marking the metal’s worst daily performance since 1980. Gold also fell almost 10%.
Spot gold gained about 2.22% to $4,769.33 per ounce, while silver gained about 3.81% to $82.39 per ounce.
U.S. stocks rose overnight as Wall Street began a new month of trading, with investors shrugging off recent losses in silver and bitcoin.
THE Dow Jones Industrial Average advanced 1.05%, closing at 49,407.66, while the S&P500 is up 0.54% and stands at 6,976.44. THE Nasdaq Composite also gained 0.56% and ended at 23,592.11.
—CNBC’s Sean Conlon and Fred Imbert contributed to this report.
