Asian Markets Mixed Amid US Tariff Concerns
Asian shares traded mostly higher on Wednesday as investors grappled with President Trump's latest tariff announcements.
South Korea and Japan's Economic Impact
South Korea and Japan, major steel exporters to the US, may experience limited economic impact due to their significant exports of other goods.
Market Performances
Japan's Nikkei 225 gained 0.2%, Australia's S&P/ASX 200 rose 0.3%, and South Korea's Kospi edged up 0.2%. Hong Kong's Hang Seng jumped 2.0%, while the Shanghai Composite added 0.2%.
US Markets and Fed Policy
Wall Street movements were modest, with Treasury yields rising slightly. Federal Reserve Chair Jerome Powell reiterated that the Fed is in no rush to cut interest rates further but remains aware of the potential risks of moving too slowly or quickly.
Corporate Earnings and Stock Performance
Coca-Cola and DuPont reported strong earnings, sending their stock prices higher. The S&P 500 edged up marginally, the Dow Jones Industrial Average rose 0.3%, and the Nasdaq composite fell 0.4%.
Bond and Currency Markets
The yield on the 10-year Treasury rose to 4.53%. The US dollar edged up against the Japanese yen and euro.
Energy and Commodities
Benchmark US crude fell 28 cents per barrel, while Brent crude declined 26 cents per barrel.