Asian shares have mostly advanced, following Wall Street's lead, after U.S. President Donald Trump backed down on imposing tariffs on eight European countries over Greenland. Trump also said he has reached a “framework” of a future deal on Arctic security. Tokyo’s Nikkei 225 climbed 1.9%, led by technology stocks like SoftBank Group and Tokyo Electron. South Korea’s Kospi crossed the 5,000 mark for the first time. Hong Kong’s Hang Seng fell 0.2%. U.S. markets had seen losses earlier due to Trump’s tariff threats on Europe, but optimism returned after he ruled out using military force to acquire the island which is part of the Kingdom of Denmark.
