Asian stocks experienced gains after a trade court overturned tariffs. Japan's Nikkei Stock Average increased by 1.5%, driven by advances in chip-related and auto sectors. South Korea's Kospi also rose by 1.4%, while Hong Kong's Hang Seng Index saw a gain of 0.5%.
South Korea's central bank lowered its policy rate to bolster the nation's economy. The bank had previously indicated a cautious approach due to uncertainties surrounding tariff policies. Mexico's central bank revised its GDP growth forecast for the year to 0.1%, down from a prior estimate of 0.6%.
The European Commission announced plans to reduce red tape and increase funding to attract tech startups. They noted that regulatory fragmentation and insufficient financing were hindering startup growth. An auction of 40-year Japanese government bonds showed weak demand, reflecting investor apprehension amid rising global yields.
The ECB reaffirmed Christine Lagarde's commitment to completing her term. This followed reports suggesting she considered joining the World Economic Forum before her term ended.