This is CNBC’s live blog covering Asia-Pacific markets.

Asia-Pacific markets traded higher Wednesday after Wall Street halted its six-day win streak.

Japan’s benchmark Nikkei 225 rose 0.26%, while the Topix gained 0.45%. South Korea’s Kospi climbed 0.58% while the small-cap Kosdaq traded 0.95% higher.

Australia’s benchmark S&P/ASX 200 climbed 0.43%.

Futures for Hong Kong’s Hang Seng index stood at 23,632, lower than its last close of 23,681.48.

Investors are also assessing economic data from across the region.

Japan exports slowed for a second straight month, government data showed Wednesday, as the country reels under U.S. President Donald Trump’s sweeping tariffs.

The Bank of Indonesia is also slated to release its policy decision later in the day. The bank slashed policy rates in September 2024, and then again in January 2025, but has kept rates on hold at 5.75% since, HSBC noted in a report.

“Given growth weakness, Bank of Indonesia may have to embark on a deep rate-cutting cycle,” the bank wrote.

“For several reasons, we believe it’s time to restart the easing cycle in May,” the bank’s economists said, citing weak first-quarter GDP growth and weakening currency against the greenback.

U.S. futures were little changed. S&P 500 futures wavered Tuesday night following a losing session on Wall Street that snapped a winning streak. Futures tied to the broad index shed 0.2%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 93 points, or 0.2%.

Overnight stateside, the three major averages closed lower. Stocks slipped on Tuesday as the big tech-led rally lost steam and the S&P 500 ended a six-day winning run.

The S&P 500 fell 0.39% to end at 5,940.46, while the Nasdaq Composite dipped 0.38% and closed at 19,142.71. The Dow Jones Industrial Average lost 114.83 points, or 0.27%, finishing at 42,677.24. Investors dumped tech stocks, which had led the run over the past six days. The sector lost 0.5%. Nvidia slid 0.9%. Advanced Micro Devices, Meta Platforms, Apple and Microsoft also dropped.

— CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.

‘Japan’s manufacturers are in for a tough time,’ says Moody’s Analytics

Japan’s deteriorating trade outlook does not bode well for exports in the months ahead, Moody’s Analytics wrote in a note following Japan’s latest trade data.

Japan’s trade deficit widened modestly in April in line with expectations, but even if the Asian nation and the U.S. strikes a trade deal that curtails some of the harsher tariffs, a complete return to pre-Trump terms is not on the table, said Stefan Angrick, Moody’s Analytics head of Japan and frontier markets economics.

“Tariffs are the main threat to the outlook… With the end of the 90-day tariff pause looming, the stakes are high,” he said, elaborating that Japan’s factories are tightly woven into global supply chains and sudden shifts in trade policy could send shockwaves through the wider economy and dent growth.

“In all, Japan’s manufacturers are in for a tough time,” said Angrick.

–Lee Ying Shan

Japan exports growth slows for a second straight month as U.S. tariffs bite

Japan exports slowed for a second straight month, government data showed Wednesday, as the country reels under U.S. President Donald Trump’s sweeping tariffs.

Exports growth of 2% was in line with Reuters-polled analysts’ estimates, its slowest since October last year and the worst showing since September when exports contracted 1.7%.

The country’s imports shrank 2.2% from a year ago, less than estimates of a 4.5% decline.

Japan’s real gross domestic product contracted an annualized 0.7% in the first quarter this year, preliminary government data showed, dragged down by stagnant private consumption and slowing export growth.

Read the full story here.

—Anniek Bao

S&P 500 snaps 6-day win streak

The S&P 500 snapped a six-day winning streak on Tuesday.

The benchmark fell 0.39% to close at 5,940.46. The Dow Jones Industrial Average lost 114.83 points, or 0.27%, and settled at 42,677.24. The Nasdaq Composite shed 0.38% to finish at 19,142.71.

— Lisa Kailai Han