Global Markets Today: Asian markets opened higher on Wednesday, diverging from Wall Street’s losses after renewed trade tensions between the U.S. and China.
On Tuesday, U.S. President Donald Trump criticized China for failing to purchase soybeans, labeling the move “an economically hostile act,” and warned of potential retaliation, including a possible cooking oil embargo.
Japan’s Nikkei 225 rose 0.3 per cent, while the broader Topix gained 0.75 per cent. In South Korea, the Kospi advanced 0.8 per cent, and the small-cap Kosdaq climbed 0.83 per cent.
Australia’s S&P/ASX 200 added 0.93 per cent, and Hong Kong’s Hang Seng Index was poised to open higher, with futures trading at 25,763 compared to its previous close of 25,441.35.
US stock market today
Wall Street’s key measure of investor fear climbed to its highest level in nearly five months before easing on Tuesday, as U.S. stocks swung sharply amid renewed worries over a U.S.-China trade dispute.
The volatile session came after Friday’s steep selloff, when the S&P 500 tumbled 2.7 per cent—its biggest one-day decline in six months.
On Tuesday, the benchmark index initially dropped as much as 1.5 per cent but rebounded to close 0.2 per cent higher, after Federal Reserve Chair Jerome Powell signaled that the central bank could soon halt its balance sheet runoff, helping calm concerns about tight financial conditions.
The Nasdaq Composite slipped 0.8 per cent to 22,521.70, having earlier fallen as much as 2.1 per cent per cent while the Dow Jones Industrial Average rose 0.4 per cent, or 202.88 points, to 46,270.46 after gaining nearly 1 per cent intraday.
Fed Chair Powell further indicated on Tuesday that the central bank is approaching the end of its balance sheet reduction and hinted that additional interest rate cuts may be forthcoming.
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