Trade War Rumbles: Markets Surge Amid Tariff Turmoil

Asian stocks showed resilience on Wednesday, buoyed by gains in the technology sector, even as elevated U.S. tariffs on steel and aluminium became effective amidst ongoing trade disputes. This development highlights the sustained investor anxiety regarding the pace and success of trade negotiations.

Investor anticipation is also concentrated on major events across the globe, including the European Central Bank's policy meeting, which is anticipated to result in a rate cut. In South Korea, optimism flourished following a liberal election victory, igniting hopes for economic reform and reduced policy uncertainty.

The protracted trade standoff between the United States and China continues to cast a shadow over global economic growth forecasts. While currency markets reacted with the dollar experiencing weakness, commodities such as oil and gold reflect ongoing volatility amid supply-demand imbalances and safe-haven asset flows.

(With inputs from agencies.)