US Market crash impact eases: Asian stocks recover to pare tariff-led losses, Silver joins Gold in breaking records; check latest prices and factors behind rally

Days after US-China tension sent shockwaves across markets, most Asian stocks rose on Tuesday (October 14, 2025), witnessing a rally on Wall Street. The recovery came after US President Donald Trump tempered his rhetoric against China, which he had threatened with 100 percent tariffs. Trump shook markets on Friday when he slammed Beijing over its curbs on rare earths, which fuelled fears he was reigniting their trade war after months of a tentative truce.

While Tokyo struggled amid Japanese political turmoil. Japanese markets are poised for a turbulent opening following a three-day weekend following the collapse of the nation’s ruling coalition and another flare-up in US-China trade tensions, according to The Bloomberg.

Tokyo Stock Exchange returned from a long weekend with losses, as lingering tariff worries compound political uncertainty in Japan where the ruling coalition collapsed Friday (October 13, 2025) as junior partner Komeito quit the alliance. Meanwhile, prices of silver have joined those of gold in touching records as safe-haven metals continue to rally despite the stock market’s recovery.

Silver joins Gold as safe-haven metals continue to push higher

Despite the recovery in the stock market following last week’s slump, safe-haven metals continued to push higher. According to AFP, it helped silver join gold in touching records. This increase was fuelled by expectations for more US interest rate cuts, worries about rising debt and warnings that an AI-stoked global rally could be overdone.

In commodity trade, silver struck a record $52.90 as investors sought other safe havens as gold continued to chalk up successive peaks of its own. The yellow metal hit a new high of nearly $4,150.

Trump changes tone on China

After the US market crash, the US president shifted his tone by Sunday, insisting in a social media post that “it will all be fine”, and adding that he wanted to “help” China. That was enough for traders to return to the market, with the Nasdaq soaring more than two percent and S&P 500 and Dow each up more than one percent Monday, taking a huge bite out of Friday’s losses.“Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!, Trump said in a post on Truth Social.

Asia tried to follow suit following Monday’s retreat, which had been tempered by Trump’s more conciliatory comments. Hong Kong, Shanghai, Singapore, Seoul, Sydney, Taipei and Manila all rose, though Wellington and Jakarta dropped.

“Given the recent rally, positioning was stretched (and) any bad news is a cue to sell risk…which indicates the market is looking for an excuse for a selloff,” said Neil Wilson of Saxo markets. “The extent of the selling could be the cue for the last bears to throw in the towel.”

Key figures at around 0230 GMT

• Tokyo – Nikkei 225: DOWN 1.2 percent at 47,520.57 (break)
• Hong Kong – Hang Seng Index: UP 0.3 percent at 25,955.27
• Shanghai – Composite: UP 0.5 percent at 3,910.17
• Euro/dollar: UP at $1.1571 from $1.1568 on Monday
• Pound/dollar: UP at $1.3343 from $1.3332
• Dollar/yen: UP at 152.42 yen from 152.31 yen
• Euro/pound: DOWN at 86.72 pence from 86.77 pence
• West Texas Intermediate: UP 0.4 percent at $59.75 per barrel
• Brent North Sea Crude: UP 0.4 percent at $63.56 per barrel
• New York – Dow: UP 1.3 percent at 46,067.58 (close)
• London – FTSE 100: UP 0.2 percent at 9,442.87 (close)