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Hang Seng surges over 3%: Asian stocks rally after China-US announce partial tariff suspension for 90 days

IndiaTimes Monday, 12 May 2025
Global markets surged following news of "substantial progress" in US-China trade talks, with both nations agreeing to reduce retaliatory tariffs significantly for 90 days. Hong Kong's Hang Seng index led gains in Asia, jumping 3%, while European indices also reacted positively. The US will reduce tariffs to 30%, and China to 10%, boosting hopes for an end to trade tensions.
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