Asia Pops After Court Blocks Trump Tariffs

Asia-Pacific markets mostly rose Thursday after a U.S. federal trade court ruled that President Donald Trump exceeded his authority with his “reciprocal” tariffs, dealing a blow to a major tenet of the president’s economic agenda.In Japan, the Nikkei 225 recovered 710.58 points, or 1.9%, to 38,432.98. In Hong Kong, the Hang Seng regained 315.07 points, or 1.4%, to 23,573.38.Korean stocks hiked as The Bank of Korea cut its policy rate from 2.75% to 2.5% Thursday, its lowest level since August 2022, in line with expectations among economists polled by Reuters.Investors will be keeping an eye out for Asian chip stocks after artificial intelligence heavyweight Nvidia posted stronger-than-expected earnings and revenue Wednesday, driven by a 73% year-over-year surge in its data center business.In other markets In China, the CSI 300 reaccumulated 22.46 points, or 0.6%, to 3,858.70. In Korea, the Kospi index gained 50.49 points, or 1.9%, to 2,720.64In Taiwan, the Taiex Index ditched 10.42 points, or 0.1%, to 21,347.30.In Singapore, the Straits Times index inched ahead 4.92 points, or 0.1%, to 3,916.84In New Zealand, the NZX 50 dumped 80.95 points, or 0.7%, to 12,281.31.In Australia, the ASX 200 forged ahead 12.86 points, or 0.2%, to 8,409.80