Asian markets trade higher while China’s onshore yuan dips to its lowest level since 2023

Japan’s Nikkei 225 saw an increase of 5.31%, contributing significantly to the rebound in Asia-Pacific markets. Other regional markets like Australia’s S&P/ASX 200 and South Korea’s Kospi also showed signs of recovery, despite the looming trade war.

The Chinese yuan fell to 7.34 CNY against the dollar, marking a significant drop. This weakness is attributed to the escalating tensions from U.S. Tariffs, causing substantial fluctuations in the currency and impacting regional economies negatively.