Asia-Pacific markets were mixed Wednesday, as investors digest a hotter-than-expected inflation reading for April amid concerns over higher oil prices and the ongoing Middle East conflict.
In Japan, the Nikkei 225 index surged 529.54 points, or 0.8%, to 63,272.11.
In Hong Kong, the Hang Seng recovered 40.53 points, or 0.2%, 26,388.44.
President Donald Trump on Monday said the month-old ceasefire between the U.S. and Iran was “unbelievably weak” and “on massive life support” after rejecting an “unacceptable” counterproposal from Tehran to end the conflict.
Defense Secretary Pete Hegseth said Trump doesn’t need congressional approval to restart strikes on Iran. The comment comes after the administration passed the 60-day mark required by federal war powers law to receive authorization for military force.
CHINA
In Shanghai, the CSI 300 index regained 50.29 points, or 1%, to 4,998.34.
Meanwhile, investors will also be focusing on developments related to the upcoming meeting between Trump and Chinese President Xi Jinping, where trade is expected to be discussed.
In other markets;
In Taiwan, the Taiex dumped 523.82 points, or 1.3%, to 41,374.50.
In Singapore, the Straits Times 50 index added 57.96 points, or 1.2%, to 5,003.96.
In Korea, the Kospi galloped 200.86 points, or 2.6%, to 7,844.01.
In New Zealand, the NZX 50 lost 17.27 points, or 0.1%, to 13,063.07.
In Australia, the AZX 200 backpedaled 40.29 points, or 0.5%, to 8,630.39.
