Asia-Pacific markets trade mostly higher as investors assess Trump tariff impact

This is CNBC’s live blog covering Asia-Pacific markets.

Asia-Pacific markets mostly rose Wednesday as investors digested U.S. President Donald Trump’s tariff impact on regional economies.

U.S. Federal Reserve Chair Jerome Powell, meanwhile, re-emphasized on Tuesday the central bank’s focus on curbing inflation and signaled that policymakers were not in a rush to push interest rates lower.

Australia’s S&P/ASX 200 traded up 0.31%.

Japan’s Nikkei 225 rose 0.21% after resuming trading following a holiday, while the Topix slid 0.22%. South Korea’s Kospi added 0.29% and the small-cap Kosdaq lost 0.36%.

Hong Kong’s Hang Seng Index rose 2.05% while mainland China’s CSI 300 traded 0.16% higher.

India is slated to report its inflation data for January. SoftBank Group will be posting its fiscal third-quarter earnings later in the day.

Overnight in the U.S., the three major averages closed mixed. The S&P 500 added 0.03% to end at 6,068.50, while the Nasdaq Composite lost 0.36% to close at 19,643.86. The Dow Jones Industrial Average gained 123.24 points, or 0.28%, to 44,593.65.

Powell’s testimony comes at a volatile time in Washington with President Donald Trump favoring tariffs against U.S. trading partners and with mixed messages coming from the administration on its approach to the Fed.

Powell said the current policy stance, with the benchmark Fed funds rate in a range between 4.25% and 4.5%, is providing flexibility. The Federal Open Market Committee held the rate in place at its late-January meeting.

— CNBC’s Jeff Cox, Pia Singh and Hakyung Kim contributed to this report.

Vietnam to raise 2025 growth target to 8% on strong manufacturing activity and investments

The Vietnamese government is likely to raise the country’s GDP growth target to 8% this year from 6.5% to 7%, estimated earlier, Reuters reported.

The stronger growth will be led by an expansion in its manufacturing output and foreign investments, Vietnam’s Minister of planning and investment Nguyen Chi Duong reportedly said in parliament on Wednesday.

He also foresees a 12% growth in Vietnam’s imports and exports this year, bringing its trade surplus to around $30 billion.

The Southeast Asian country is among the beneficiaries of the “China Plus One” strategy that has nudged companies to diversify their supply chains and operations out of China.

Its GDP expanded by 7.09% in 2024, thanks to broad-based growth across its services, industrial and agro-forestry-fishery sectors.

— Amala Balakrishner, Reuters

Stocks end Tuesday little changed

The Dow Jones Industrial Average ended Monday’s trading session 123.24 points higher, or 0.28%, to close at 44,593.65. The S&P 500 gained 0.03% to end at 6,068.50, and the Nasdaq Composite slid 0.36% lower to close at 19,643.86.

— Pia Singh