Asian shares rise, tracking Wall Street gains as Trump backs down on
Greenland
[January 22, 2026] By
CHAN HO-HIM
HONG KONG (AP) — Asian shares mostly advanced on Thursday, tracking Wall
Street, after U.S. President Donald Trump walked back from imposing
tariffs on eight European countries over Greenland and ruled out using
military force to take control of the territory.
The future for the S&P 500 gained less than 0.1% and that for the Dow
Jones Industrial Average was virtually flat on Thursday.
Tokyo’s Nikkei 225 climbed 1.7% to 53,688.89, with technology stocks
leading gains. SoftBank Group jumped 11.6% and equipment maker Disco
Corp. soared 17.1%. Advantest, which makes testing equipment for
computer chips, surged 5%.
South Korea’s Kospi closed 0.9% higher at 4,952.44 after crossing the
5,000 mark for the first time, as traders cheered. Technology-related
stocks drove the rally. Shares of chipmaker SK Hynix picked up 2%, while
Samsung Electronics rose 1.9%.
Hong Kong’s Hang Seng edged less than 0.1% higher to 26,600.68. The
Shanghai Composite index edged 0.1% higher to 4,122.58.
In Australia, the S&P/ASX 200 gained nearly 0.8% to 8,848.70.
Taiwan’s Taiex rose 1.6%, while India’s Sensex added 0.2%.
U.S. markets logged t heir biggest losses since October on Tuesday as
investors reacted to Trump’s threat over the weekend to slap tariffs of
10% on Denmark, Norway, Sweden, Germany, France, the United Kingdom, the
Netherlands and Finland for opposing U.S. control of Greenland, sparking
concerns over worsening relationships between the U.S. and its European
allies.
But Trump, attending the World Economic Forum in Davos, Switzerland,
backed down on Wednesday and said he would not use force to acquire
Greenland. The U.S. president also said in a post on his social media
site that he had agreed with the head of NATO on a “framework of a
future deal” on Greenland and on Arctic security.
The easing tensions drove Wall Street optimism. On Wednesday, the S&P
500 climbed 1.2% to 6,875. The Dow Jones Industrial Average gained 1.2%
to 49,077.23, while the Nasdaq composite also rose 1.2%, to 23,224.82.
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Currency traders celebrate as they work in the office with a screen
showing the Korea Composite Stock Price Index (KOSPI), center top,
of over 5,000 points at the foreign exchange dealing room of the
Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 22,
2026. (AP Photo/Ahn Young-joon)
 Halliburton, the oil field services
company, jumped 4.1% following stronger-than-expected profits for
the latest quarter. United Airlines rose 2.2% also after
better-than-expected quarterly profits. Netflix fell 2.2% even as it
reported a stronger profit than expected, as investors focused on
factors including a slowing growth of subscribers.
The price of gold fell 0.2% to $4,828.70 per ounce, reflecting
investors’ reduced worries, after passing the $4,800 mark ahead of
Trump’s reversal of stance on Greenland as many flocked to
safe-haven assets.
In the bond market, U.S. Treasury yields also eased following
lessened fear among investors as well as a calming of Japan’s bond
market turmoil. The yield on the 10-year Treasury eased to 4.25%
from 4.30% late Tuesday.
Japan’s long-term bond yields surged to records earlier this week
after Prime Minister Sanae Takaichi’s decision to call a snap
election in February. That sparked concerns over her pledges to cut
taxes and increase spending, which could hinder efforts to rein in
government debt.
The U.S. dollar rose to 158.75 Japanese yen from 158.27 yen,
prompting analysts to speculate that authorities might intervene if
the yen falls any further.
The euro rose to $1.1692 from $1.1687.
U.S. benchmark crude oil shed 16 cents to $60.46 per barrel. Brent
crude, the international standard, fell 24 cents to $65.00 per
barrel.
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