Asia-Pacific Markets Climb on Trade Hopes

Markets across Asia-Pacific experienced an uplift on Wednesday, fueled by optimism over potential easing in US-China trade tensions. This sentiment was bolstered by US President Donald Trump's comments, indicating that tariffs on Chinese goods would not escalate to 145%, though he noted they wouldn't be eliminated entirely.

Economic Indicators and Market Reactions

Further buoying the markets, Trump clarified he has "no intention" of replacing Federal Reserve Chair Jerome Powell. Meanwhile, economic updates revealed a rebound in Japan's services sector activity in April and a slight easing in its manufacturing downturn. Australia saw a modest deceleration in private sector growth.

Market Performances Across the Region

Notable gains were observed across major indices: Japan's Nikkei 225 rose by 1.72%, Hong Kong's Hang Seng surged 2.65%, and South Korea's Kospi advanced 1.45%. Mainland China's Shanghai Composite edged up 0.11%, while the Shenzhen Composite increased by 1.09%. Australia's S&P/ASX 200 also enjoyed a 1.49% rise. Currency markets saw the dollar strengthen by 0.18% against the yen.