Asian markets were mixed on Wednesday following another positive session on Wall Street, where strong corporate earnings continued to lift sentiment.
Japan’s Nikkei 225 increased 0.3% to 35,942.90, though shares in Japanese carmakers slipped despite former President Trump signing an order easing specific U.S. tariffs on vehicle and parts imports.
In other regional markets:
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Hong Kong’s Hang Seng rose 0.2% to 22,044.84,
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Shanghai Composite dipped 0.1% to 3,282.96,
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South Korea’s Kospi fell 0.6% to 2,550.05,
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Australia’s S&P/ASX 200 gained 0.4% to 8,100.40, and
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Taiwan’s Taiex was largely flat at 20,235.03.
On Wall Street, the rally extended for a sixth day:
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The S&P 500 rose 0.6% to 5,560.83,
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The Dow Jones Industrial Average advanced 0.7% to 40,527.62, and
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The Nasdaq Composite climbed 0.5% to 17,461.32.
Donald Trump has eased some of his tariffs on the car industry following criticism from manufacturers who warned the measures would drive up prices for consumers.
The former U.S. president announced “a little relief,” confirming that while the 25% tariff on imported car parts will remain, affected carmakers will be exempt from additional levies.
The climbdown came on the eve of Mr Trump’s 100th day in office, just before a new wave of 25% tariffs on imported automotive parts was set to take effect. It followed a strong backlash from carmakers, who warned the additional duties would lead to higher prices for consumers and a significant drop in sales.
