Global Shares Mixed Amid Uncertainty Over Tariffs

Bangkok: Asian shares and US futures were mostly higher on Wednesday following a rocky session on Wall Street after Canada, Mexico and China were hit by steep US tariffs that took effect on Tuesday.Comments by US President Donald Trump in a speech to Congress and the nation appeared to have scant impact on world markets.

The future for the S&P 500 was up 0.5 per cent, while that for the Dow Jones Industrial Average gained 0.4 per cent. China announced it intends to keep its economy growing at around a 5 per cent annual pace in 2025, in line with last year’s target, as it opened the annual session of its largely ceremonial legislature. Premier Li Qiang also promised more government spending and other measures to support growth.

Hong Kong’s Hang Seng index jumped 2.6 per cent to 23,548.86, while the Shanghai Composite index climbed 0.6 per cent to 3,342.36. Tokyo’s Nikkei 225 index edged 0.2 per cent higher to 37,418.24. In South Korea, the Kospi gained 1.2 per cent to 2,558.13, while Australia’s S&P/ASX 200 shed 1.2 per cent to 8,141.10.

On Tuesday, US stocks racked up more losses on Wall Street as the trade war between the US and its key trading partners escalated. The Trump administration imposed 25 per cent tariffs on imports from Canada and Mexico starting Tuesday and doubled tariffs against imports from China by 20 per cent.