Asia-Pacific markets traded mostly higher on Wednesday, as investors assessed fresh economic data from Japan and monitored escalating tensions in the Middle East.
A renewed wave of attacks targeting energy infrastructure in the United Arab Emirates has heightened concerns over prolonged supply disruptions amid the Iran conflict.
The incidents included a drone strike on a major gas facility, a fire at the Fujairah Oil Industry Zone, and reported damage to a tanker near the strategically critical Strait of Hormuz.
By 11:20 am AEDT, Australia’s S&P/ASX 200 edged 0.1% lower, while Japan’s Nikkei 225 climbed 1.6%. South Korea’s KOSPI 200 outperformed, surging 2.8%.
Among economic data releases, South Korea added 234,000 jobs in February, marking the fastest annual employment growth in five months.
However, underlying weaknesses persisted, particularly among younger workers and in the construction sector. Employment among those aged 15 to 29 fell by 146,000, while the youth unemployment rate rose to 7.7%, the highest February reading since 2021.
In Japan, official data showed the country recorded a merchandise trade surplus of ¥57.27 billion in February, according to the Finance Ministry.
Exports rose 4.2%, exceeding expectations, while imports increased 10.2%, reflecting resilient domestic demand.
Overnight on Wall Street, major U.S. benchmarks closed modestly higher. The Dow Jones Industrial Average gained 0.1%, the S&P 500 rose 0.3%, and the Nasdaq Composite advanced 0.5%, as investors balanced economic resilience against geopolitical risks.
Commodity markets remained in focus, with Brent crude rising 3.2% to settle at $103.42 per barrel amid supply concerns. Gold prices were little changed, holding near $5,005 per ounce.
Elsewhere in the region, China’s SSE Composite Index fell 0.9% to 4,049.9, while the CSI 300 declined 0.7% to 4,637.4.
Hong Kong’s Hang Seng Index edged 0.1% higher, and India’s BSE Sensex rose 0.8% to 76,070.8.
European markets delivered a mixed performance overnight. The UK’s FTSE 100 gained 0.8%, while Germany’s DAX rose 0.7% and France’s CAC 40 added 0.5%.
