Asia-Pacific Markets Gain on Trade Hopes

Asia-Pacific markets experienced a significant uplift this Wednesday, fueled by optimistic sentiments surrounding the potential easing of trade tensions between the US and China. This positive shift was notably influenced by US President Donald Trump's recent comments, where he hinted that tariffs on Chinese goods would not escalate to 145%, though he clarified that complete removal was off the table.

Economic Indicators Show Mixed Signals

Further buoying the markets was Trump's assurance of no plans to replace Federal Reserve Chair Jerome Powell. On the economic front, Japan showcased a rebound in its services sector for April, alongside a slight easing in its factory downturn. Meanwhile, Australia reported a modest deceleration in private sector growth.

Market Performances Across the Region

At 7:14 am CET, Japan's Nikkei 225 was up by 1.72%, while Hong Kong's Hang Seng led the charge with a 2.65% surge. South Korea's Kospi and Australia's S&P/ASX 200 also enjoyed gains of 1.45% and 1.49%, respectively. Mainland China's markets saw mixed results, with the Shanghai Composite edging up by 0.11% and the Shenzhen Composite climbing 1.09%. The dollar strengthened slightly against the yen, trading at 141.8480.