Business
Asian stocks rise as US markets rally on tariff pause
An employee of a foreign exchange dealing company sits under an electronic board showing the stock index of Japan’s Nikkei 225, in Tokyo Thursday, April 10, 2025. (AP)
TOKYO, April 10, (AP): World markets soared on Thursday, with Japan’s benchmark jumping more than 9%, as investors welcomed U.S. President Donald Trump’s decision to put his sharp tariff hikes on hold for 90 days, though he excluded China from the reprieve.
In early trading, Germany’s DAX initially gained more than 8%. It was up 7.5% at 21,141.53 a bit later, while the CAC 40 in Paris gained 7.2% to 7,360.23. Britain’s FTSE 100 surged 5.4% to 8,090.02.
However, U.S. futures edged lower and oil prices also declined. Chinese shares saw more moderate gains, given yet another jump in the tariffs each side is imposing on each others’ exports.
The future for the S&P 500 was down 0.4% while that for the Dow Jones Industrial Average edged 0.2% lower. Analysts had expected the global comeback given that U.S. stocks had one of their best days in history on Wednesday as investors registered their relief over Trump’s decision.
On Thursday, Japan’s benchmark Nikkei 225 jumped 9.1% to finish at 34,609.00, zooming upward as soon as trading began. Australia’s S&P/ASX 200 soared 4.5% to 7,709.60.
South Korea’s Kospi gained 6.6% to 2,445.06. Hong Kong’s Hang Seng added 2.4% to 20,750.65. The Shanghai Composite rose 1.2% to 3,223.64. Investors went “from fear to euphoria,” Stephen Innes, managing partner at SPI Asset Management, said in a commentary.
“It’s now a manageable risk, especially as global recession tail bets get unwound, and most of Asia’s exporters breathe a massive sigh of relief,” he said, referring to the tariffs on China, which Trump has kept.
On Wall Street, the S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the words investors worldwide had been waiting and wishing for.
“I have authorized a 90 day PAUSE,” Trump said, saying more than 75 countries are negotiating on trade and not retaliating against his latest increases in tariffs. Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.
China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products. The trade war is not over, and an escalating battle between the world’s two largest economies can create plenty of damage.
U.S. stocks are also still below where they were just a week ago, when Trump announced worldwide tariffs on what he called “Liberation Day.” But on Wednesday, at least, the focus on Wall Street was on the positive. The Dow Jones Industrial Average shot to a gain of 2,962 points, or 7.9%.
The Nasdaq composite leaped 12.2%. The S&P 500 had its third-best day since 1940. The relief came after doubts had crept in about whether Trump cared about the financial pain the U.S. stock market was taking because of his tariffs. The S&P 500, the index that sits at the center of many 401(k) accounts, came into the day nearly 19% below its record set less than two months ago.
That surprised many professional investors who had long thought that a president who used to crow about records for the Dow under his watch would pull back on policies if they sent markets reeling. Wednesday’s rally pulled the S&P 500 index away from the edge of what’s called a “bear market.”
That’s what professionals call it when a run-of-the-mill drop of 10% for U.S. stocks, which happens every year or so, graduates into a more vicious fall of 20%. The index is now down 11.2% from its record. Wall Street also got a boost from a relatively smooth auction of U.S. Treasurys on Wednesday.
Earlier jumps in Treasury yields had rattled the market, indicating increasing levels of stress. Trump said he had been watching the bond market “getting a little queasy.” Higher yields on Treasurys put pressure on the stock market and push upward on rates for mortgages and other loans for U.S. households and businesses.
U.S. Treasury yields historically have dropped – not risen – during scary times for the market because the bonds are usually seen as some of the safest possible investments.
This week’s sharp rise had brought the yield on the 10-year Treasury back to where it was in late February. After approaching 4.50% in the morning, the 10-year yield pulled back to 4.34% following Trump’s pause and the Treasury’s auction.
That’s still up from 4.26% late Tuesday and from just 4.01% at the end of last week. In energy trading, benchmark U.S. crude fell 81 cents to $61.54 a barrel. Brent crude, the international standard, declined 93 cents to $64.55 a barrel. In currency trading, the U.S. dollar fell to 146.77 Japanese yen from 147.38 yen. The euro cost $1.0986, up from $1.0954.
Kuwait enhances Stock Exchange access for emerging firms with amendments to listing rules.
KUWAIT CITY, July 1: Kuwait’s Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules.
In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection.
The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations.
The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait’s broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards.
The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks.
The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments.
Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes.
This latest move is seen as a significant step toward further modernizing Kuwait’s financial sector and creating a more inclusive and diversified capital market landscape.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
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