Asia-Pacific markets were mostly higher Wednesday as investors assessed China growth and inflation targets amid U.S. tariffs and escalating global trade tensions weighing down sentiment.
In Japan, the Nikkei 225 index regained 87.06 points, or 0.2%, to 37,418.24.
In Hong Kong, the Hang Seng index popped 652.44 points, or 2.8%, to 23,594.21.
Australia’s markets fell, as the country’s economy expanded 1.3% year on year in the fourth quarter, beating expectations of 1.2% from economists polled by Reuters.
CHINA
The CSI 300 in mainland China recovered 17.35 points, or 0.5% to 3,902.57.
Investors are also focused on China’s “Two Sessions,” an annual parliamentary gathering, with the meeting of its top legislature, the National People’s Congress, kickstarting Wednesday.
China on Wednesday set its GDP growth target for 2025 at around 5%. The country has also lowered its inflation expectations to “around 2%.”
Trump’s 25% tariffs on goods from Mexico and Canada took effect Tuesday. The president also imposed an additional 10% duty on Chinese goods, bringing the total new tariffs on China to 20%.
In other markets
In Taiwan, the Taiex index revived 275.02 points, or 1.2%, to 22,871.90.
In Singapore, the Straits Times index regained 7.64 points, or 0.2%, to 3,898.40
In Korea, the Kospi gained 29.21 points, or 1.2%, to 2,558.13
In New Zealand, the NZX 50 dropped 57.64 points, or 0.5%, to 12,412.07.
In Australia, the ASX 200 fell 56.95 points, or 0.7%, to 8,141.11
