Asia-Pacific markets were set to open higher Wednesday, breaking ranks with Wall Street’s declines after U.S. and China exchanged blows in a renewed trade feud.
U.S. President Donald Trump on Tuesday stateside criticized China for not buying soybeans, calling it an “an economically hostile act.” He also threatened “retribution” such as a cooking oil embargo.
“Volatility remains elevated, and the best explanation is the strained relationship between the U.S. and China,” Veteran investor Louis Navellier wrote in a note published Wednesday.
Japan’s benchmark Nikkei 225
index was set for a higher open, with its futures contract in Chicago trading at 47,165, and its counterpart in Osaka at 46,980, against the index’s last close of 46,847.32.
