Asian stocks rally fades as Japan debt sale disappoints

ASIAN equities wobbled yesterday as investors struggled to track a Wall Street rally fuelled by forecast-beating US consumer confidence data, with a weak Japanese debt sale adding to worries about rising bond yields.

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New York investors returned to their desks after a long weekend break in a good mood after Donald Trump delayed until July the 50% tariffs on the European Union he announced out of the blue on Friday, sparking a market rout.

The US president’s announcement Sunday delaying them soothed worries about a fresh flare-up in his trade war that has rattled global sentiment, fanned uncertainty and led some to question their confidence in the world’s biggest economy.

Buying was also boosted by Trump's post on social media flagging progress with Brussels.

“I have just been informed that the E.U. has called to quickly establish meeting dates,” he said on his Truth Social platform. “This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America.”