Asian stocks climb as Trump eases Greenland tariff tensions
Asian markets saw gains after Donald Trump withdrew his tariff threats over Greenland, boosting investor confidence. The dollar weakened amid ongoing uncertainty about US policy, while safe-haven metals like gold and silver reached new highs. Investors are now focused on the upcoming Federal Reserve meeting and recent US economic data. Major tech companies are also set to release earnings next week, drawing further market attention.
What we know
- Donald Trump pulled back from imposing tariffs on European nations over opposition to US plans for Greenland, helping Asian stocks extend their gains.
- Gold surged to a new record above $4,967 an ounce, while silver also hit a fresh peak.
- The US economy grew slightly more than previously estimated in the third quarter, with jobless numbers dipping and inflation settling lower.
- The Federal Reserve is expected to hold interest rates at its upcoming meeting, amid tensions between Trump and Jerome Powell.
- Japanese company Nintendo saw its shares jump after its Switch 2 console led US hardware sales, ending 4.5% higher.
