Asia-Pacific markets set to open mostly higher as trade deal developments fuel sentiment
Mongkol Chuewong | Moment | Getty Images
Stocks ended the session higher on Wednesday, with the S&P 500 finishing with its third consecutive record closing high this week.
The broad market index gained 0.78% to close at 6,358.91.
Additionally, the blue-chip Dow Jones Industrial Average moved 507.85 points higher, or 1.14%, to end the session at 45,010.29. The tech-heavy Nasdaq Composite also jumped 0.61% to finish at 21,020.02, its first close above the 21,000 level.
— Sean Conlon
U.S. Secretary of the Treasury Scott Bessent gestures as Japan's Economic Revitalization Minister Ryosei Akazawa looks on the day they visit U.S. pavilion at Expo 2025 in Osaka, Japan, July 19, 2025.
Kim Kyung-hoon | Reuters
Although the trade deal between the U.S. and Japan turned out to be better than the market expected, it might still cause some damage to Japan's economy, according to UBS.
"The 15% tariff will still likely lead to declines in exports and corporate earnings, and the resulting stagnation in capital investment and consumption will likely continue to exert downward pressure on the Japanese economy by about 0.4 percentage points year over year, in our view," analyst Chisa Kobayashi wrote on Wednesday.
Along with that, Kobayashi said that she does not expect the Bank of Japan to hike interest rates this year, adding that she anticipates that the next rate hike will be "only be after mid-2026."
— Sean Conlon
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