In Asian Equity Markets the Nikkei 225 advanced 0.53 percent. Steelmakers and the miscellaneous product sector led gains early on, with JFE Holdings rising 8.06 percent. Automakers also traded largely higher amid softness in the yen. Over in South Korea, the Kospi gained 0.43 percent. Tech was a mixed picture, with some Apple suppliers giving up early gains made after the iPhone maker beat earnings expectations. LG Innotek shed 0.31 percent after rising more than 2 percent. Hong Kong’s Hang Seng Index rose 0.37 percent, with Apple supplier Sunny Optical up 2.47 percent.

In Currency Markets the U.S. dollar edged up on the yuan and growth-leveraged currencies on Wednesday after a source said the White House was about to propose higher tariffs on $200 billion in Chinese imports, perhaps sparking a new round of trade hostilities. The dollar was up 0.39 percent at 6.8290 yuan after reports circulated President Donald Trump would propose tariffs of 25 percent, instead of 10 percent, in an announcement that could come as early as Wednesday. The Australian dollar, often used as a proxy for China plays, fell 0.2 percent to $0.7412

In Commodities Markets oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July. October Brent crude futures dropped 30 cents, or 0.4 percent, to $73.91 a barrel, adding to a 1.8 percent loss in the previous session. U.S. crude futures were down 37 cents, or 0.5 percent, at $68.39 a barrel, having dropped nearly 2 percent on Tuesday. Brent fell more than 6 percent in July, while U.S. crude futures decline about 7 percent.

In US Equity Markets stocks rebounded on Tuesday, boosted by gains in industrial shares following reports of renewed trade negotiations between the United States and China. The S&P 500 gained 0.49 percent, to 2,816.29 and the Nasdaq Composite added 0.55 percent, to 7,671.79. Healthcare stocks provided a boost to all three major U.S. indexes following positive results, with the S&P health sector rising 1.0 percent. Apple Inc shares were up over 2 percent in aftermarket trading after posting results that topped Wall Street expectations, driven by sales of higher-priced iPhones.

In Bond Markets Japanese government bond prices fell on Wednesday, with the benchmark futures falling more than a half point, as market players tested the Bank of Japan’s commitment to allow for greater flexibility in yield moves. The benchmark 10-year JGB futures fell as much as 0.71 point to a one-year low of 149.98. BOJ Governor Haruhiko Kuroda said on Tuesday the central bank will tolerate the 10-year JGB yield moving around 20 basis points from its policy target of zero percent, compared to around 10 basis points in the past.