Global markets up overnight after Trump eases pressure on Fed Chairman

Japan's benchmark Nikkei 225 gained 1.9pc in afternoon trading to 34,875.64. Australia's S&P/ASX 200 surged 1.3pc to 7,920.50. South Korea's Kospi gained 1.5pc to 2,523.17. Hong Kong's Hang Seng added 2.2pc to 22,039.88, while the Shanghai Composite edged up 0.2pc to 3,305.43.

Trump had previously said he could fire Fed chair Jerome Powell after the Fed paused cuts to short-term interest rates. But Trump told reporters Tuesday, “I have no intention of firing him.”

Investors were also cheered by comments from U.S. Treasury Secretary Scott Bessent in a Tuesday speech. He said the ongoing tariffs showdown with China is unsustainable and he expects a “de-escalation” in the trade war.

U.S. stocks jumped ...
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