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People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024.
Jung Yeon-je | Afp | Getty Images
Asia-Pacific markets were set to open higher Thursday, as Wall Street rose overnight after U.S. President Donald Trump postponed tariffs on certain automakers.
Australia's S&P/ASX 200 traded around the flatline.
Japan's Nikkei 225 futures pointed to a higher open for the market. The futures contract in Chicago was at 37,695 and its counterpart in Osaka last traded at 37,700 compared to the index's previous close of 37,418.24.
Hong Kong's Hang Seng index futures were at 23,962, also higher than HSI's last close of 23,594.21.
South Korea's consumer inflation for February rose 2% year on year, more than Reuters estimates of a 1.95% increase, and slower than the 2.2% gain in January.
The White House on Wednesday announced a one-month delay on tariffs for automakers whose vehicles comply with the United States-Mexico-Canada Agreement. White House spokesperson Karoline Leavitt also said that Trump was "open" to additional tariff exemptions beyond the pause on auto levies.
Overnight in the U.S., the three major averages closed higher. The Dow Jones Industrial Average rebounded 485.60 points, or 1.14%, to finish at 43,006.59, regaining ground after plunging more than 1,300 points over the last two sessions. The S&P 500 added 1.12% to 5,842.63, while the Nasdaq Composite climbed 1.46% to 18,552.73.
—CNBC's Lisa Kailai Han and Alex Harring contributed to this report.
Stocks finish higher
Stocks ended Wednesday's turbulent session in the green after a significant afternoon rally.
The Nasdaq Composite led the three major indexes with a 1.5% jump. The Dow and S&P 500 each climbed 1.1%.
— Alex Harring
Trump's auto tariff extension helped reverse 'selling frenzy,' says SimCorp's Brown
New Kia vehicles at the Port of Tacoma in Tacoma, Washington, US, on Tuesday, March 4, 2025.
David Ryder | Bloomberg | Getty Images
The White House's announcement on Wednesday of tariff exemptions for auto makers helped reverse this week's market downturn, according to Melissa Brown, managing director of investment decision research at SimCorp.
"Investors have wanted to view the tariff threat as just that, a threat meant as a negotiating tactic, not one that would actually be implemented," Brown said. "As the deadline for Canadian and Mexican tariffs drew closer, markets became concerned and reacted with a sharp sell-off. ... But, today, as the government announced potential agreements and relief for certain sectors, the selling frenzy started to reverse."
"The one thing that seems clear is that uncertainty for investors will continue," Brown added. "What we say today may be obsolete by tomorrow."
— Alex Harring
English (US)