Asia-Pacific Markets Rally on Trade Hopes

Asia-Pacific markets experienced a significant uptick this Wednesday, fueled by growing optimism over potential easing in US-China trade tensions. This positive sentiment was bolstered by comments from US President Donald Trump, indicating that tariffs on Chinese goods would not escalate to 145%, though he clarified that they wouldn't be entirely lifted either.

Economic Indicators and Market Performances

Further lifting the market mood, Trump reassured that he has "no intention" of replacing Federal Reserve Chair Jerome Powell. On the economic front, Japan's services sector showed expansion in April, alongside a softening in its factory downturn. Meanwhile, Australia's private sector growth saw a slight moderation.

Notable market movements included Japan's Nikkei 225 rising by 1.72%, Hong Kong's Hang Seng jumping 2.65%, and South Korea's Kospi increasing by 1.45%. Mainland China's Shanghai Composite edged up 0.11%, with the Shenzhen Composite climbing 1.09%. Australia's S&P/ASX 200 also marked a 1.49% gain. The dollar strengthened slightly against the yen, trading 0.18% higher.