Asian stocks mostly gained on Wednesday, diverging from Wall Street’s choppy session as regional investors brushed off concerns over US trade policy shifts under President Donald Trump.
While Wall Street wavered on tariff uncertainty and recession fears, key Asian indices rebounded, led by strong performances in Japan and South Korea.
Japan’s Nikkei 225 rose 0.29%, while the Topix index gained 0.94%, recovering from losses in the previous session.
Nissan’s stock climbed 0.87% after CEO Makoto Uchida announced his resignation, paving the way for Ivan Espinosa to take over on April 1.
The automaker recently ended merger talks with Honda (NYSE:HMC), but reports suggest discussions may resume after Uchida steps down. Honda shares dipped 0.21%.
South Korea’s Kospi index jumped 1.60%, with the Kosdaq advancing 1.64%, signaling investor confidence despite global uncertainties.
However, Hong Kong’s Hang Seng Index remained flat, while China’s CSI 300 slipped 0.27%.
Chinese government bond yields edged higher, with the 10-year yield hovering around 1.94% and the 30-year yield at 2.05% after crossing the 2% mark on Monday.
Tech stocks were in focus, with Robosense surging 18.28% in Hong Kong, while jewelry retailer Chow Tai Fook gained 7.15%.
Meanwhile, Australia’s S&P/ASX 200 slid 1.41%, tracking Wall Street’s losses.
India’s February inflation report is due later today, with economists expecting a sharp slowdown to 3.98% from 5.68% in January, which could influence the Reserve Bank of India’s monetary policy outlook.
Overnight, US markets tumbled as Trump’s surprise tariff hike on Canadian steel and aluminum—raising duties to 50% from 25%—rattled investors.
The S&P 500 fell 0.76% to 5,572.07, slipping into correction territory.
The Dow Jones Industrial Average lost 478 points (1.14%) to close at 41,433.48, while the Nasdaq Composite dipped 0.18% to 17,436.10.
Despite Wall Street’s weakness, Asia-Pacific markets showed resilience, with investors weighing global risks against regional growth prospects.