South Korean stocks and the won surged as Lee Jae-myung's victory in the presidential election raised hopes for rapid economic stimulus, market reforms and reduced policy uncertainty.
The KOSPI index hit its highest level since August 2024. At 9:50 a.m. Vietnam time, the index rose 62.11 points, or 2.4%, to 2,763.08. This helped the MSCI index of Asia- Pacific shares (excluding Japan) increase 0.6%.
In Tokyo, Japan's Nikkei 225 index rose 387.85 points, or 1.04%, to 37,834.66.
Chinese stocks were little changed in the morning session, with the Shanghai Composite Index rising 10.57 points, or 0.31 percent, to 3,372.55, while Hong Kong's Hang Seng Index rose 118.11 points, or 0.50 percent, to 23,630.60.
In the market's highlight of this session, on the afternoon of June 3 local time, US President Donald Trump signed an executive order doubling tariffs on imported steel and aluminum to 50%, effective at 0:01 on June 4 (Eastern US time).
In addition, data released on June 4 showed that the number of new jobs in the US increased in April, but the number of people laid off also increased, indicating that the labor market is slowing as tariffs affect the economic outlook.
Investors are also focusing on the possibility of a phone call between US President Donald Trump and Chinese President Xi Jinping this week, as tensions between the world's two leading economies continue to simmer.
Another concern is the pace of trade talks and the lack of significant progress. June 4 is the deadline for US trading partners to submit proposals for deals that would help them avoid reciprocal tariffs that take effect in five weeks.
The dollar fell 0.17 percent against the yen to 143.72 yen. The euro rose 0.15 percent to 1.1388. The dollar index, which measures the greenback against a basket of major currencies, was at 99.11, not far from a six-week low of 98.58 hit earlier this week. The index has fallen 8.5 percent this year.
In Vietnam, at 10:30 a.m., the VN-Index decreased 0.96 points, or 0.07%, to 1,346.29 points, while the HNX-Index increased 1.41 points, or 0.62%, to 230.35 points.
Source: https://hanoimoi.vn/chung-khoan-chau-a-tang-dong-usd-suy-yeu-sau-khi-my-tang-thue-nhom-thep-704476.html
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