06:33 AM EDT, 05/29/2025 (MT Newswires) -- Asian stock markets rallied Thursday after the US Court of International Trade, based in New York, ruled that President Donald Trump's "reciprocal" tariffs exceeded his authority as Chief Executive.

Hong Kong, Shanghai, and Tokyo finished in the green, as did most other regional exchanges.

In Japan, the Nikkei 225 finished up 1.9% as traders bought auto and tech issues. Semiconductor-related shares gained after US chip colossus Nvidia (NVDA) reported solid Q1 earnings.

The benchmark Nikkei 225 rose 710.58 to 38,432.98, as gaining issues outnumbered losers 179 to 38.

Leading the upside was staffing agency Recruit, up 6.4%, while consultancy BayCurrent declined 5.3%.

In economic news, the seasonally adjusted Japan Consumer Confidence Index rose to 32.8 in May, up from 31.2 in April, but still below the 40-45 level that prevailed before 2019, according to the Cabinet Office.

In Hong Kong, the Hang Seng Index closed up 1.4% on the international trade outlook.

The broad gauge Hang Seng rose 315.7 to 23,573.38, as gaining issues outnumbered losers 65 to 15. The Hang Seng TECH Index gained 2.5% on the day, while the Mainland Properties Index rose 0.6%.

Leading the upside was CSPC Pharmaceutical, gaining 11.7%, while telecom service China Unicom HK declined 1.5%.

On the mainland, the Shanghai Composite rose 0.7% to 3,363.45.

On the other regional exchanges, the S. Korean KOSPI rose 1.9%; the Taiwan TWSE was stable; the Australian ASX 200 advanced 0.2%; the Singapore Straits Times Index rose 0.1%, and the Thai Set rose 0.3%. In late trading in Mumbai, the Sensex was up 0.4%

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