Asian Markets Climb on China Stimulus Hopes as Bitcoin Surges Past $94,000 Amid Trump's Tariff and Crypto Reserve Plans

Global stock markets showed a mixed response at the start of the week, with Asian markets climbing on hopes that China would announce a significant stimulus package to counter U.S. President Donald Trump's impending tariffs on Chinese goods. Investors were also monitoring potential last-minute deals to mitigate the impact of tariffs set to affect Mexico, Canada, and China from Tuesday. The anticipation of these tariffs has led to volatility in the markets, with the Dow Jones Industrial Average and other U.S. indices experiencing fluctuations. The S&P 500 and Nasdaq futures showed slight movements, reflecting the uncertainty surrounding the exact scope of the tariffs on Canada and Mexico. In Asia, the Nikkei 225 in Japan rose by 1.7% to 37,785.47, while the Hang Seng Index in Hong Kong increased by 0.28% to 23,006.27. The Shanghai Composite in China saw a slight decline of 0.12% to 3,316.93, despite positive manufacturing data from China. The S&P/ASX 200 in Australia gained 0.9%, while Taiwan's Taiex fell by 1.3%. Meanwhile, India's economy expanded by 6.2% in its third fiscal quarter. Cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, and Cardano, experienced a surge following Trump's announcement of plans to include these five digital assets in a new U.S. strategic cryptocurrency reserve. Bitcoin's price rose above $94,000, reflecting the market's reaction to this development.