Sea of green as media (and everyone except China) win Trump reprieve

Hal Crawford

April 10, 2025 11:18

Australian stocks have spiked with the opening of ASX following US President Donald Trump’s 90-day reciprocal tariff pause. Media stocks have also benefited, with the Unmade Index reversing heavy losses of the past few days.

On opening at 10am, the S&P/ASX200 index rose almost 5% (4.91%) wiping out falls in the past five days. The Unmade Index, which is comprised of 14 Australian media stocks, also rose close to 5% in early trading. Note that News Corp is tracked but not included in the index given its global nature and size.

The Unmade Index in early trading Thursday

The rally came about after Trump posted on his social network Truth Social overnight (Australian time) that he was pausing reciprocal tariffs on 75 nations. Because these nations had opened negotiations with the US, Trump said he was lowering their tariff rate to the now-standard 10%.

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Hal Crawford

Crawford has worked across news media over a 30-year career, including running Ninemsn editorial in Sydney (editor-in-chief and publisher) and the TV3 newsroom in Auckland (chief news officer).

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