Asia-Pacific markets were mixed on Wednesday, with Chinese stocks falling after President Donald Trump’s comments about imposing 10% tariffs on China.
Australia’s S&P/ASX 200 rose 0.26%.
Japan’s Nikkei 225 added 1.36% and the Topix added 0.87%. South Korea’s Kospi added 3.67% while the Kosdaq traded 0.93% higher.
Shares of several Korean tech stocks rallied with SK Hynix and LG Electronics rising 2.52% and 2.85% respectively. This follows reports of Korean firms considering moving their manufacturing facilities from Mexico to the US following Trump’s protectionist policies.
Hong Kong’s Hang Seng index fell 1.34 percent, while China’s CSI 300 fell 0.85 percent. Trump said his team is discussing 10 percent tariffs on China and that the tariffs could go into effect as early as February 1, SEEbiz reports.
India’s Nifty 50 rebounded slightly, adding 0.28% after falling to its lowest level since last June on Tuesday. Similarly, the BSE Sensex rose 0.46%.
Investors will be eagerly awaiting Malaysia’s central bank’s policy meeting today, where Bank Negara Malaysia is expected to keep its benchmark rate at 3%.
