Tokyo, 10 April 2025 (dpa/MIA) - Stock markets across East Asia surged on Thursday after US President Donald Trump unexpectedly announced a 90-day pause on newly imposed tariffs.

Japan's benchmark Nikkei 225 saw one of the steepest climbs, soaring 2,664.62 points, or 8.4%, to 34,378.65 about an hour into morning trading.

The rally followed Trump's statement on Wednesday that some tariffs would be temporarily suspended, though a universal customs rate of 10% will remain in effect during the three-month break. Meanwhile, he said tariffs on Chinese goods would be raised further to 125%.

Markets in China also opened higher, brushing off the additional US trade restrictions on Beijing. The CSI 300, which tracks major mainland China stocks, rose 1.7% to 3,749.13, while Hong Kong's Hang Seng Index gained 2.7% to open at 20,810.43 points.

South Korea's KOSPI climbed more than 5% and Taiwan's market response was even more positive, with the island's benchmark index jumping 9.2% at the open.

Taiwan has expressed willingness to negotiate tariff reductions and increase imports from the US, its key ally in the conflict with China, which considers Taiwan part of its territory.

US stocks also saw a sharp recovery on Wednesday.

Photo: EPA