Asia-Pacific markets set to mostly climb, tracking gains on Wall Street after EU tariff delay

Asia-Pacific markets were set to mostly climb Wednesday, tracking Wall Street gains on investor optimism after U.S. President Donald Trump extended the deadline for a 50% tariff on European Union imports until July 9.

Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,320 while its counterpart in Osaka last traded at 38,300 against the index's last close of 37,724.11.

Futures tied to Australia's S&P/ASX 200 index stood at 8,488, pointing to a higher open than its last close of 8,407.6.

Hong Kong markets are poised to slip slightly with futures tied to the Hang Seng index at 23,328, compared to the benchmark's last close of 23,381.99.

Australia is set to report its consumer price index later in the day, and the Reserve Bank of New Zealand is stipulated to release its monetary policy statement.

U.S. futures are little changed as investors awaited earnings results from Nvidia and the minutes from the Federal Reserve May meeting, due out Wednesday afternoon U.S. time.

Overnight, the three major stock averages closed higher. The Dow Jones Industrial Average gained 740.58 points, or 1.78%, to finish at 42,343.65, while the S&P 500 rose 2.05% to 5,921.54. Both snapped four-day losing streaks. The Nasdaq Composite popped 2.47% to 19,199.16 as technology names like Tesla saw outsized gains.