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2/6, 7:21 AM (Source: TeleTrader)
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Asian markets jump after China's tariffs announcement

Asian markets traded with strong gains on Thursday, with the Nikkei 225 jumping over 550 points at the end of the day, as China announced that it would prolong its tariff cuts on $75 billion-worth of goods coming in from the United States. Meanwhile, Bank of Japan's Takako Masai said he sees the Japanese economy expanding, but global growth fears continued to linger as Fitch Ratings warned the coronavirus is expected to curtail Chinese growth in 2020.

The Nikkei 225 ended 2.38% higher and Australia's S&P/ASX 200 finished 1.05% up.

In mainland China, the Shenzhen Composite surged 2.9% at 7:17 am CET and the Shanghai Composite increased 1.9% at 7:16 am CET. Hong Kong's Hang Seng jumped 2.78% at 7:19 am CET.

The Kospi in South Korea jumped 2.8% at 7:19 am CET.

The dollar was up 0.11% against the yen at 7:19 am CET, going for 109.9475 as it traded on two-week highs.

Breaking the News / VP