Tokyo, Apr 10 (AP) Japan's benchmark Nikkei 225 shot up in early Thursday trading, gaining more than 2,000 points, as investors welcomed President Donald Trump's decision to back off on most of his tariffs.

The Tokyo Stock Exchange's Nikkei 225 was trading at 34,052.58, up 7.4% within the first 15 minutes of trading.

Also Read | Tariff War: Donald Trump Pauses Tariffs on Most Nations for 90 Days, Raises Taxes on Chinese Imports to 125%.

The surge echoes the jump overnight on Wall Street, which had one of its best days in history, with the S&P 500 surging 9.5%.

But the rallies follow earlier losses in global markets when the tariffs were announced. (AP)

Also Read | Trump's Tariff War: Piyush Goyal Asks Exporters Not To Panic; 'India Working Out Right Mix of Trade Agreement With US'.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)