Hongdae street in Seoul city, South Korea
Twenty47studio | Moment | Getty Images
Asia-Pacific markets rose Thursday after a U.S. federal court ruled that President Donald Trump exceeded his authority with his “reciprocal” tariffs on more than 180 countries and territories in April.
Japan’s benchmark Nikkei 225 rose 1.18% and the Topix climbed 0.79%. South Korea’s Kospi rose 0.78% and the small-cap Kosdaq climbed 0.44%.
Australia’s S&P/ASX 200 rose 0.12%.
Hong Kong markets are poised to slip slightly with futures tied to the Hang Seng index at 23,132, compared to the benchmark’s last close of 23,258.31.
Investors are expected to keep an eye on the Bank of Korea’s meeting decision later in the day, as well as Asian chip stocks, after Nvidia posted stronger-than-expected earnings and revenue Wednesday, driven by a 73% year-over-year surge in its data center business.
U.S. futures rose, buoyed by the court ruling and strong earnings report from artificial intelligence heavyweight Nvidia.
Futures tied to the S&P 500 jumped 1.44%, while Nasdaq 100 futures gained 1.76%. Dow Jones Industrial Average futures added 483 points, or 1.15%.
Overnight, the three major stock averages closed lower as investors parsed the latest earnings reports and Federal Reserve meeting minutes.
The S&P 500 slid 0.56% to end at 5,888.55, while the Nasdaq Composite shed 0.51% and settled at 19,100.94. The Dow Jones Industrial Average fell 244.95 points, or 0.58%, and closed at 42,098.70.
— CNBC’s Alex Harring, Sarah Min and Pia Singh contributed to this report
