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Asian stock markets rose Wednesday, following the global stock market rally, after the U.S. government delayed imposing tariffs on some Chinese imports to the United States, bringing much-needed relief to markets beset by political and economic turmoil.
The impact of tariff news was largely offset by disappointing July data from China. The yen rose against the dollar, driven by weak data on industrial value added above China's size.
U.S. stocks closed higher on Tuesday after the U.S. announced a delay in imposing tariffs on some Chinese imports, attracting buyers back and boosting the stock market.
The surge in U.S. stocks boosted the MSCI Mingsheng Asia-Pacific (excluding Japan) index by 0.9%.
China's Shanghai Composite Index. SSEC rose 0.6% and Hong Kong's Hang Seng Index. HSI rose 0.5%.
The Korea Composite Stock Index (KOSPI). KS11 rose 0.8%, while the Nikkei Index. N225 climbed 0.6%.
However, Wednesday's rebound barely recovered from the huge stock market decline in recent months, as the Sino-US trade dispute is still far from being resolved and market sentiment remains fragile.
Uncertainty about political risks, such as the situation in Hong Kong, also continues to unsettle investors.
Kenta Inoue, senior market analyst at Mitsubishi UFJ Morgan Stanley Securities, pointed out that Trump's decision to postpone tax increases came at a time when U.S. stock markets were stagnating.

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