Classic Chinese courtyard featuring a stage and red lanterns hanging
Jackyenjoyphotography | Moment | Getty Images
Asia-Pacific markets were set to mostly climb Wednesday, as Wall Street rose overnight, shrugging off Trump tariffs and China’s retaliation to measures.
All eyes will be on China, which will resume trading after the Lunar New Year holidays. The Chinese government on Tuesday announced tariffs on U.S. imports in retaliation to duties on its exports.
China is slated to release its Caixin Services PMI figures for January later in the day. The metric captures the country’s services activity.
Futures for Hong Kong’s Hang Seng index stood at 20,971 pointing to a stronger open, compared to the HSI’s close of 20,789.96.
Japan benchmark Nikkei 225 started the day up 0.71% while the broader Topix index advanced 0.88%.
South Korea’s Kospi began 0.93% higher, while the small-cap Kosdaq was up 0.98%.
The country’s consumer price index for January rose 0.7% month on month and 2.2% annually — more than Reuters’ 1.97% estimate.
Over in Australia, the S&P/ASX 200 started the day up 0.54%.
Overnight in the U.S., the three indexes moved higher following the developments around global trade.
Software player Palantir popped about 24% on fourth-quarter results. AI major Nvidia advancing 1.7% during the session.
The tech-heavy index Nasdaq Composite jumped 1.35% to 19,654.02, while the S&P 500 rose 0.72% to 6,037.88. The Dow Jones Industrial Average climbed 134.13 points, or 0.3%, to 44,556.04.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
