Cityscape and Tokyo Tower at sunset, Tokyo, Japan.
© Marco Bottigelli | Moment | Getty Images
Asia-Pacific markets traded mixed on Wednesday as traders parsed a slew of key economic data in the region.
Japan’s benchmark Nikkei 225 rose 0.57% to close at 36,045.38 while the Topix added 0.63% to close at 2,667.29. South Korea’s Kospi slipped 0.34% to close at 2,556.61 and the Kosdaq lost 1.27% to close at 717.24.
Australia’s benchmark S&P/ASX 200 added 0.69% to close at 8,126.2. Hong Kong’s Hang Seng Index added 0.51% to close at 22,119.41 while China’s CSI 300 slipped 0.12% to 3,770.57 after China’s manufacturing activity fell more-than-expected into contractionary territory in April.
The Bank of Japan kickstarts its policy meeting on Wednesday, and is widely expected to hold rates at 0.5% when the meeting concludes on Thursday.
Investors are also parsing a slew of key economic data in the region. Australia’s first-quarter inflation rose 2.4% compared to the same period last year, higher than the Reuters expectation of a 2.3% climb. Meanwhile, China’s manufacturing activity fell more-than-expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade.
President Donald Trump said Tuesday that tariff negotiations with India are “coming along great,” and he believes the U.S. will strike a trade deal with the South Asian nation.
Speaking at a White House press briefing, Treasury Secretary Scott Bessent said the administration also held “substantial talks” with Japan over a possible trade deal, and that “the contours of a deal” with South Korea could be coming together.
Stock futures tied to the Dow Jones Industrial Average were little changed Tuesday night after the blue-chip index posted its longest winning run since July. Futures tied to the 30-stock Dow fell 6 points, or 0.01%. S&P 500 futures slipped 0.2%, while Nasdaq 100 futures lost 0.4%.
Overnight stateside, the three major averages closed higher. The Dow Jones Industrial Average rose on Tuesday, hitting its highs of the day.
The Dow climbed 300.03 points, or 0.75%, to close at 40,527.62. The S&P 500 gained 0.58%, ending at 5,560.83. Both indexes posted a sixth straight positive day, marking the longest win streak since July for the Dow and since November for the S&P 500. The Nasdaq Composite advanced 0.55%, settling at 17,461.32.
— CNBC’s Sean Conlon, Alex Harring and Erin Doherty contributed to this report.
