South Korea’s Kospi led gains in Asia on Wednesday as investors weighed Japanese trade data and awaited the U.S. Federal Reserve’s interest rate decision.
Markets expect the Fed to hold interest rates steady between 3.5% and 3.75% on Wednesday in the US.
The Kospi rose more than 4%, while the small-cap Kosdaq gained 2.15%. The five-minute trading halt was triggered after Kospi 200 futures rose 5%, according to an official note.
Japan’s Nikkei 225 jumped 2.73%, while the Topix added 2.34% after the country reported exports rose 4.2% in February from a year earlier, beating estimates, SEEbiz reports.
Economists polled by Reuters had expected growth of 1.6%. Exports increased by 16.8% in the previous month.
Australia’s S&P/ASX 200 was higher by 0.35%.
Hong Kong’s Hang Seng index rose 0.34%, while the CSI 300 fell 0.33%.
The war in the Middle East continues to escalate, keeping investors on guard. A new wave of attacks on the United Arab Emirates’ energy infrastructure has heightened fears of prolonged supply disruptions amid a war with Iran.
