Asia-Pacific markets mostly climbed on Wednesday as investors assessed China’s GDP and inflation targets amid rising global trade tensions and U.S. tariffs. China announced a 2025 GDP growth target of around 5% and lowered its inflation forecast to “about 2%,” signaling cautious optimism in the face of economic challenges.

Australia’s S&P/ASX 200 fell 0.77%, despite the country’s economy growing 1.3% year-over-year in the fourth quarter, surpassing the 1.2% forecast by Reuters. Japan’s Nikkei 225 rose 0.37%, while the Topix gained 0.38%. South Korea’s Kospi climbed 1.11%, and the small-cap Kosdaq increased 0.91%.

In China, the CSI 300 rose 0.32%, and Hong Kong’s Hang Seng Index surged 1.65%. Investors are closely watching China’s annual “Two Sessions” parliamentary meeting for further economic policy signals.

Meanwhile, U.S. markets closed lower, with the Dow Jones Industrial Average dropping 1.55% and the S&P 500 recording its worst day of the year.