Australian banks rise most in nearly 5 years on Trump tariff relief

Australia's financial sub-index .AXFJ rises as much as 6.4%, posting its biggest intraday percentage gain since May 2020

Sub-index tracks a rally in global markets after U.S. President Donald Trump issued a 90-day pause on some of his reciprocal tariffs, soothing worries about the economic impact from U.S. trade policies

Top two lenders Commonwealth Bank of Australia CBA.AX and National Australia Bank NAB.AX rise 4% and 6%, respectively

ANZ Group ANZ.AX climbs 4.8% while Westpac WBC.AX gains 5.5%

Sub-index last up 5.1%, trimming YTD losses to 4.2%