Crimson clouds light up the skyline of Victoria Harbour on July 14, 2022 in Hong Kong, China.
Li Zhihua | China News Service | Getty Images
Asia-Pacific markets were set to open mostly higher Wednesday, after Wall Street rose following President Donald Trump’s less aggressive than expected tariff stance.
Australia’s S&P/ASX 200 was 0.27% higher at the open.
Japan’s Nikkei 225 futures pointed to a stronger open for the market. The futures contract in Chicago was at 39,405 and its counterpart in Osaka last traded at 39,270, compared to the index’s previous close of 39,027.98.
Hong Kong’s Hang Seng index futures were at 20,028, lower than the HSI’s last close of 20,106.55.
Investors will be looking out for Malaysia’s central bank policy meeting today, where the Bank Negara Malaysia is expected to keep its policy rate steady at 3%.
Overnight in the U.S., the three major averages advanced as investors viewed Trump’s comments around international trade as a bit softer than expected.
The Dow Jones Industrial Average added 537.98 points, or 1.24%, to finish at 44,025.81. The S&P 500 gained 0.88% to end at 6,049.24, while the Nasdaq Composite rose 0.64% to 19,756.78.
Trump said he was considering 25% tariffs on Mexico and Canada on Feb. 1 because of their border policies while signing first-day executive orders in the White House Monday night. He also mentioned China, noting that the U.S. could put tariffs on the country if it doesn’t approve a TikTok deal.
—CNBC’s Alex Harring and Brian Evans contributed to this report.
