Asia-Pacific markets traded mixed on Wednesday as investors weighed fresh economic data and comments from United States Federal Reserve Chair Jerome Powell.
Powell said the Fed would have already cut interest rates if not for President Donald Trump’s tariff policies.
By 11:10 am AEST, Australia’s S&P/ASX 200 rose 0.4%, while Japan’s Nikkei 225 slipped 0.7% and South Korea’s Kospi 200 fell 1.4%.
South Korean inflation accelerated to 2.2% year-on-year in June, ahead of expectations and up from May’s 1.9%.
In Australia, retail sales rose just 0.2% in May, missing the forecasted 0.4% and following a flat April.
Building approvals climbed 3.2% to 15,212, rebounding from a 5.7% fall came coming in below the expected 4.8% rise.
In the U.S. overnight, the Dow gained 0.9%, while the S&P 500 and Nasdaq Composite retreated 0.1% and 0.8%, respectively, from record highs.
Among commodities, Brent crude added 0.6% to US$67.11 per barrel and spot gold rose 1.1% to US$3,338.72 an ounce.
China’s markets edged higher, with the Shanghai Composite up 0.4% to 3,457.7 and the CSI 300 advancing 0.2% to 3,942.8.
India’s BSE Sensex rose 0.1% to 83,697.3, while Hong Kong’s Hang Seng Index remained closed for the Establishment Day holiday.
European markets closed mixed, with London’s FTSE 100 up 0.3% to 8,785.3, Germany’s DAX down 1% at 23,673.3, and France’s CAC 40 little changed at 7,662.6.
