Asian markets rose on Thursday, tracking gains in U.S. futures after a U.S. court blocked President Donald Trump’s proposed “liberation day” trade tariffs. Technology shares led the rally, buoyed by strong earnings from NVIDIA Corporation (NASDAQ:NVDA), while South Korean stocks outperformed on a surprise interest rate cut.
The U.S. Court of International Trade ruled that Trump exceeded his authority by invoking the International Emergency Economic Powers Act (IEEPA) to impose steep reciprocal tariffs. The decision raised hopes of a pause in aggressive trade duties, though the White House signaled plans to appeal, injecting short-term uncertainty into global markets.
South Korea’s KOSPI surged over 1.7%, driven by gains in chipmakers Samsung Electronics and SK Hynix, key suppliers to Nvidia. The Bank of Korea’s 25 basis point rate cut and dovish outlook further fueled investor optimism, making Korean equities the top regional performers.
China’s Shanghai Composite and CSI 300 indices rose 0.8% each, and Hong Kong’s Hang Seng added 0.5%, although concerns over deflation and weak growth capped further upside. China remains under heavy U.S. tariffs, some reaching 245%, though recent signs of easing were noted.
Japan’s Nikkei 225 climbed 1.8%, while the TOPIX index rose 1.5%, supported by strength in technology stocks. Taiwan’s TSMC added 0.6%, and Hon Hai Precision jumped 3.6% on positive 2025 forecasts.
Elsewhere, Australia’s ASX 200 gained 0.3%, while Singapore’s Straits Times dipped 0.2%. India’s Gift Nifty 50 futures pointed to a 0.4% rise, signaling a strong open.
Overall, the combination of easing trade tensions, dovish monetary policy, and tech optimism drove regional equities higher, with markets closely watching the tariff appeal process and AI sector momentum.