Investing.com - Asian shares opened higher on Wednesday with China set to return to trade after a two-day holiday and investors shrugging off the launch of a medium-range ballistic missile by North Korea ahead of a summit between U.S. President Donald Trump and Chinese President Xi Jinping this week that will discuss the Korean peninsula in addition to trade and looked ahead to jobs figures from ADP for further clues on the next likely Fed rate hike.
Japan's Nikkei 225 opened up 0.48%, while the S&P/ASX 200 gained 0.25%. South Korea's Kospi was nearly flat,
Overnight, U.S. stocks closed higher on Tuesday, after the release of upbeat U.S trade data. The latest batch of U.S. economic trade data, added to the narrative of a stronger U.S. economy, as the U.S. trade deficit narrowed by more than expected in February.
The Commerce Department said Tuesday, the trade deficit shrank by 9.6% to $43.6 billion, while January's trade deficit was revised down to $48.2 billion from $48.5 billion. Economists had forecast the trade gap contracting to $44.8 billion in February.
Meanwhile, Richmond Federal Reserve President Jeffrey Lacker announced his immediate resignation Tuesday, admitting that he discussed sensitive information with an analyst regarding the Federal Reserve’s plans for economic stimulus.
The Dow Jones Industrial Average closed 0.19% higher at 20,689. The S&P 500 gained 0.06% and the Nasdaq Composite closed 0.07% higher at 5,898.61.