Asia-Pacific markets traded higher at the start of Wednesday's trade, following small gains on Wall Street overnight amid rising expectations that United States President Donald Trump’s tariffs may be less severe than previously anticipated.
By 11:25 am AEDT (12:25 am GMT), Australia’s S&P/ASX 200 climbed 0.6%, trading at two-week highs, while Japan’s Nikkei 225 advanced 0.7% and South Korea’s Kospi 200 added 0.5%.
Among economic updates, Australia’s consumer price index came in at 2.4% in February, slightly below market expectations of 2.5%.
Meanwhile, the Australian federal government released its annual budget, focusing on power bills, healthcare, and worker rights, with a modest tax cut included.
Overnight in the U.S., all three major indices closed higher. The Dow Jones Industrial Average added 4.2 points, or 0.01%, to settle at 42,587.5, the S&P 500 added 0.2% to 5,776.7, and the Nasdaq Composite rose 0.5% to 18,271.9.
In commodities, Brent crude slipped 0.8% to US$72.39 per barrel, while spot gold prices rose 0.3% to US$3,020.09 per ounce.
Chinese equities saw mixed performance, with the Shanghai Composite closing flat at 3,370.0, while the CSI 300 dipped 0.1% to 3,932.3.
Elsewhere in Asia, Hong Kong’s Hang Seng Index declined 2.4% to 23,344.3, while India’s BSE Sensex remained flat at 78,017.2.
In Europe, major markets finished higher, with the FTSE 100 rising 0.3% to 8,663.8, Germany’s DAX climbing 1.1% to 22,109.8, and France’s CAC 40 gaining 1.1% to 8,108.6.
