Asian stocks edge higher after Wall Street's gains and expectations of softer tariffs
Photo: Reuters
Asian markets traded mostly higher on Wednesday, following Wall Street's positive performance amid hopes that U.S. President Donald Trump's tariffs might be less stringent than previously anticipated.
Japan’s Nikkei 225 climbed 1.03%, while the Topix added 0.73%. South Korea’s Kospi climbed 1.17% while the small-cap Kosdaq traded 0.53% higher.
Thailand’s SET Index rose 0.53% after Prime Minister Paetongtarn Shinawatra survived a no-confidence vote.
Thailand’s SET Index rose 0.53% after Prime Minister Paetongtarn Shinawatra survived a no-confidence vote.
Hong Kong’s Hang Seng Index rose 0.16% while mainland China’s CSI 300 dipped 0.25%. The Hang Seng Tech index, which tracks the 30 largest technology companies listed in Hong Kong is 0.61% higher as it dances around the brink of correction.
According to reports from The Wall Street Journal and Bloomberg, the White House’s planned tariffs set for April 2 are expected to be narrow in scope. Trump also on Friday suggested some “flexibility” for his reciprocal tariff plans for trading partners. However, U.S. consumers’ confidence is taking a hit.
“As President Trump prepares to escalate the trade war next week, U.S. consumers are increasingly inflation-weary, their finances are more fragile, and they face higher risks in the labor market,” Morning Consult wrote in a note, adding that U.S. consumers are expected to cut spending across all income brackets.
U.S. stock futures were little changed after the S&P 500
posted a marginal gain, marking its third positive session in a row.
Overnight in the U.S., all three major averages closed higher. The S&P 500 posted a slim gain, adding 0.16% to close at 5,776.65. The Nasdaq Composite gained 0.46% and ended at 18,271.86. The Dow Jones Industrial Average crept higher by 4.18 points, or 0.01%, to settle at 42,587.50.
Similar news
