Asian Shares Regain Footing On Trump TACO Trade

Market Overview - Asian stocks advanced amid easing geopolitical and trade tensions, particularly after U.S. President Trump signaled a pause on proposed tariffs against eight European countries over Greenland ownership [1] - Gold prices remained stable at $4,833 an ounce, with ongoing concerns about the U.S. dollar's dominance [1] - Oil prices declined as the narrative of oversupply regained control [1] Regional Market Performance - China's Shanghai Composite index rose 0.14% to 4,122.58, while Hong Kong's Hang Seng index increased by 0.17% to 26,629.96 [2] - Japan's Nikkei average surged 1.73% to 53,688.89, breaking a five-day losing streak, driven by gains in semiconductor and AI-related shares [2] - South Korea's Kospi index climbed 0.87% to 4,952.53, with significant contributions from Samsung Electronics and SK Hynix, both rising around 2% [3] Economic Data and Reactions - South Korea's GDP unexpectedly contracted by 0.3% quarter on quarter in the October-December period, yet investors remained optimistic [4] - Australia's S&P/ASX 200 index jumped 0.75% to 8,848.70, buoyed by a drop in the unemployment rate to a seven-month low [5] - Fortescue shares fell 5.1% due to shipments from Iron Bridge operations missing consensus estimates [6] U.S. Market Influence - U.S. stocks experienced a significant rally, with the Dow, S&P 500, and Nasdaq Composite all increasing around 1.2% after Trump announced the cancellation of proposed tariffs related to Greenland [6][7]