Similarly for China, once beaten-down stocks have emerged as unlikely beneficiaries of Trump's whipsawing tariff policies.
Coupled with a major rally in tech shares following Chinese AI startup DeepSeek's splashy debut of its R1 reasoning model, Hong Kong's Hang Seng Index - where many major Chinese companies are listed - is up nearly 20% so far this year.
The situation in China is also improving.
Official data on Monday showed retail sales growth quickened in January-February, in a welcome sign for policymakers even as joblessness rose and factory output eased.
A day earlier, the State Council unveiled what it called a "special action plan" to boost domestic consumption, featuring measures including increasing residents' income and establishing a childcare subsidy scheme.
That in turn came days after the financial regulator promised to relax consumer credit quotas and loan terms as it offers long-term backing to make available large sums.
Investors will be bracing for a busy week filled with central bank policy decisions including from the Federal Reserve.
The Fed is widely expected to keep interest rates on hold, though traders will be looking for hints about further cuts that could restore calm to markets.
And in geopolitics, Trump said he planned to speak to Russian President Vladimir Putin on Tuesday and discuss ending the war in Ukraine.
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