Asian markets settled mostly higher on Wednesday ahead of the release of key US consumer inflation reading later in the day. Market sentiments were aided by a US decision to resume intelligence sharing and military aid to Ukraine after Kyiv said it would support the Trump administration’s proposal for a 30-day ceasefire with Russia. Although, tariff uncertainties remained a focus point for investors after US President Donald Trump's increased tariffs of 25% on all US steel and aluminum imports took effect today and the European Union said it will impose counter tariffs on 26 billion euros worth of US goods from next month. Trump reversed course on a pledge to double tariffs on steel and aluminum from Canada to 50%, minutes after the Canadian province of Ontario backed off its plans for a 25% surcharge on electricity. Japanese shares ended almost flat after Bank of Japan Governor Kazuo Ueda said recent rises in bond yields were a natural reflection of market expectations of future interest rate hikes. Meanwhile, Japan's annual wholesale inflation hit 4% in February, keeping BoJ interest rate hike bets alive.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,371.92 | -7.91 | -0.23 |
Hang Seng | 23,600.31 | -181.83 | -0.77 |
Jakarta Composite | 6,665.04 | 119.19 | 1.82 |
KLSE Composite | 1,484.83 | -35.32 | -2.32 |
Nikkei 225 | 36,819.09 | 25.98 | 0.07 |
Straits Times | 3,833.07 | 7.24 | 0.19 |
KOSPI Composite | 2,574.82 | 37.22 | 1.45 |
Taiwan Weighted | 22,278.36 | 207.27 | 0.93 |
