Asia-Pacific markets traded mixed on Wednesday as investors assessed stronger-than-expected United States inflation data, rising oil prices and continued uncertainty surrounding the Middle East conflict.
Investor sentiment remained cautious after U.S. President Donald Trump described the month-old ceasefire between the United States and Iran as “unbelievably weak” and “on massive life support”.
Attention is also turning to the upcoming meeting between Trump and Chinese President Xi Jinping, with trade expected to be a central focus of discussions between the two leaders.
By 11:20 am AEST (1:20 am GMT), Australia’s S&P/ASX 200 had fallen 0.4%, while South Korea’s KOSPI 200 edged up 0.1%. Japan’s Nikkei 225 slipped 0.2%.
Economic data released during the session showed South Korea added 74,000 jobs in April, marking the slowest pace of employment growth in 16 months as higher oil prices and weaker consumer sentiment weighed on the economy following the Middle East conflict.
According to data from South Korea’s Ministry of Data and Statistics, the number of employed people rose to 28.96 million in April from 28.88 million a year earlier.
The country’s seasonally adjusted unemployment rate also increased slightly to 2.8%, up from 2.7% in the previous month.
Separately, Japan reported a current account surplus of 4.68 trillion yen (A$41.12 billion) in March, according to data released by Japan's Ministry of Finance.
For the 2025 fiscal year through March, Japan recorded a record-high current account surplus of 34.52 trillion yen.
On Wall Street overnight, U.S. markets finished mixed as technology stocks retreated and investors digested the latest inflation figures.
The Dow Jones Industrial Average rose 0.1%, while the S&P 500 declined 0.2%. The Nasdaq Composite fell 0.7%.
In commodity markets, ICE Brent crude climbed 3.4% to settle at US$107.77 per barrel as traders remained concerned about disruptions to global oil supplies linked to the Strait of Hormuz conflict.
Spot gold eased 0.4% to $4,714.26 per ounce.
Chinese equities closed lower on Tuesday, with the SSE Composite Index falling 0.3% to 4,214.5, while the CSI 300 slipped 0.1% to 4,948.0.
In Hong Kong, the Hang Seng Index eased 0.2% to 26,370.0, while India’s BSE Sensex dropped 1.9% to 74,559.2.
European markets also closed lower overnight. Britain’s FTSE 100 slipped 0.04% to 10,265.3, Germany’s DAX fell 1.6% to 23,954.9, and France’s CAC 40 declined 1% to 7,979.9.
