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In Melbourne, Australia’s financial markets spotlight, the South Korean Kospi index soared to a new record for the second consecutive day on Wednesday. This surge came after U.S. President Donald Trump adopted a more diplomatic approach regarding his tariff threats against Seoul. “We will work something out with South Korea,” Trump reportedly assured. The Kospi closed up by 1.69%, reaching 5,170.81, while the Kosdaq saw an impressive leap of 4.7%, ending the day at 1,133.52.
Across the broader Asia-Pacific region, market movements presented a mixed picture on Wednesday, diverging from Wall Street trends. The S&P 500 had just set its own record high, climbing 0.41% to finish at 6,978.60. This boost was largely driven by gains in tech giants Apple and Microsoft.
Meanwhile, Japan’s Nikkei 225 index managed to edge into positive territory late in the day’s trading, closing slightly higher at 53,358.71. In contrast, the Topix index experienced a decline, slipping 0.79% to close at 3,535.49.
“We will work something out with South Korea,” he reportedly said. The Kospi closed 1.69% higher at 5,170.81, while the Kosdaq jumped 4.7% to 1,133.52.
Elsewhere, Asia-Pacific markets were mixed Wednesday, breaking ranks with Wall Street after the S&P 500 closed at a record high. The broad market index gained 0.41% to finish at 6,978.60, supported by gains in Apple and Microsoft.
Japan’s Nikkei 225 veered into positive territory late in the session, climbing marginally to 53,358.71, but the Topix fell 0.79% to end at 3,535.49.
Late Tuesday, the yen strengthened to its highest level in almost three months against the dollar, touching a low of 152.08 amid intervention expectations swirling around the currency.
Hong Kong’s Hang Seng Index was up 2.58% in its final hour, led by energy stocks, while the CSI 300 index on mainland China rose 0.26% and closed at 4,717.99.
Australia’s S&P/ASX 200 reversed earlier gains and fell 0.13% to 8,929.9, snapping a three-day winning streak. Australia saw headline inflation come in at 3.6% in the last quarter of 2025, its highest level in six quarters.
In Southeast Asia, Indonesia’s Jakarta Composite plunged 8%, after index provider MSCI had issued a statement warning of a potential downgrade of the country to frontier-market status.
“Investors highlighted that fundamental investability issues persist due to ongoing opacity in shareholding structures and concerns about possible coordinated trading behaviour that undermines proper price formation,” MSCI said late Tuesday.
On the commodities front, spot gold prices reached a fresh record of $5,255.71 per ounce.
Overnight in the U.S., the Nasdaq Composite climbed 0.91%, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4.
S&P 500 futures were near the flatline ahead of the Federal Reserve’s interest rate decision and earnings reports from major tech companies.
The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
