Nikkei Index: Wall Street and Tuesday Night

nikkei index: But despite widespread concerns about a negative impact on the global economy, stock markets appeared to shrug off news of the new tariffs on Wednesday helped by a positive finish on Wall Street on Tuesday night, according to The Guardian. US casts doubt on Australia's claim of permanent exemption from Trump's tariffs Read more The Nikkei index in Tokyo jumped 1.3%, the ASX 200 rose 0.4% in Sydney and the Shanghai composite was up 0.3%. The optimistic mood suggests that investors believed the US tariffs of 10% rising to 25% in January could have been worse and that the impact of the trade war was already priced into share values. As Beijing retaliated with tariffs on 60bn of US goods following the Trump administration's 200bn hit on Chinese imports, a closely watched index on Australia's economic prospects pointed to a slowing in momentum for the remainder of the year and into 2019. The Australian dollar, which is seen as barometer of world trade, jumped 0.6% to US72.26c, while the Chinese yuan also reversed recent losses. There was relief as the United States set the initial tariffs at 10%, rather than the expected 25%, seen by some as a gesture that it was buying time for further negotiations. The markets are able to regroup now that the latest phase of the US-China trade war is over, said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo. (news.financializer.com). As reported in the news.