Sydney Harbour and the skyline of the central business district (CBD) in Sydney, Australia, on Tuesday, April 29, 2025.
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Asia-Pacific markets opened higher Wednesday, as investors weighed a ceasefire between Israel and Iran, as well as fresh commentary from the U.S. Federal Reserve.
There is growing optimism that a ceasefire between Israel and Iran brokered by U.S. President Donald Trump will likely hold.
Australia’s S&P/ASX 200 rose 0.13% at open. South Korea’s Kospi climbed 0.44%, while the small-cap Kosdaq was flat.
Japan’s benchmark Nikkei 225 rose 0.12%, while the Topix slid 0.21%.
Futures for Hong Kong’s Hang Seng index stood at 24,341, pointing to a higher open compared to the HSI’s last close of 24,177.07.
Investors will be keeping an eye on Australia’s inflation data for May.
U.S. futures are near flat. Futures tied to the broad S&P 500 index ticked down 0.1%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 26 points, or 0.1%.
Federal Reserve Chair Jerome Powell said Tuesday the Fed was committed to keeping inflation in check and would likely keep rates steady until there’s more clarity on how tariffs might affect prices.
Powell said policymakers were “well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
Overnight stateside, the three major averages closed higher. The Dow Jones Industrial Average climbed 507.24 points, or 1.19%, and closed at 43,089.02. The S&P 500 gained 1.11% to end at 6,092.18. The broad market index is now about 0.9% away from its 52-week high. The Nasdaq Composite advanced 1.43%, settling at 19,912.53. The Nasdaq 100 added 1.53% for a record close of 22,190.52.
— CNBC’s Lisa Kailan Han and Brian Evans contributed to this report.
