CANBERA (dpa-AFX) - Asian stocks advanced on Wednesday after new data showed the U.S. labor market is holding up in the face of tariff uncertainty.
An unexpected increase in U.S. job openings buoyed sentiment as the OECD warned uncertainty is stifling investment and confidence.
On the trade front, U.S. President Donald Trump today described Chinese President Xi Jinping as 'extremely hard' to strike a deal with, even as the White House reiterated that the two leaders will talk 'very soon.'
The Trump administration is actively monitoring China's compliance with the Geneva trade agreement, White House Press Secretary Karoline Leavitt said.
Gold held steady near $3,360 per ounce in Asian trade as the dollar recovered some ground after dropping to six-week lows against a basket of currencies early this week. Oil prices were little changed after two days of gains.
China's Shanghai Composite index rose 0.42 percent to 3,376.20 and Hong Kong's Hang Seng index gained 0.60 percent to close at 23,654.03 on trade talk optimism and expectations of more Chinese stimulus.
Japanese markets snapped a three-day losing streak as the yen weakened, and investors hoped that U.S. President Trump's tech blockade on China will spring a leak.
The Nikkei average jumped 0.80 percent to 37,747.45 while the broader Topix index settled 0.51 percent higher at 2,785.13.
Advantest climbed 1.9 percent and Screen Holdings rallied 2.2 percent after AI rally frontrunner Nvidia ed a chip-based market advance on Wall Street overnight. Toyota Industries Corp plummeted almost 12 percent after a privatization deal.
Seoul stocks climbed to their highest levels in 10 months and the won strengthened as liberal presidential candidate Lee Jae-myung's victory in a snap election resolved political uncertainty and spurred hopes of swift economic stimulus policies and market reforms.
The KOSPI average soared 2.66 percent to 2,770.84, posting its biggest daily gain in nearly two months and closing at the highest level since August 1, 2024. Chipmaker SK Hynix topped the gainers list with a 4.8 percent rise.
Australian markets rose sharply as weak GDP data for the first quarter bolstered hopes of a July rate cut. Data showed GDP grew 0.2 percent in the first quarter on lower consumer and government spending, missing market forecasts.
The benchmark S&P/ASX 200 jumped 0.89 percent to 8,541.80, led by banks and consumer stocks. The broader All Ordinaries index closed 0.91 percent higher at 8,770.20. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index ended up 1.36 percent at 12,494.71.
U.S. stocks closed higher overnight after the release of better-than-expected JOLTs Job Openings report.
The tech-heavy Nasdaq Composite and the S&P 500 gained 0.8 percent and 0.6 percent, respectively to reach their best closing levels in over three months as investors awaited new developments on tariffs. The narrower Dow rose half a percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
