In Asian Equity Markets Japan’s Nikkei 225 edged up by 0.41 percent, with the sea transport sub-index trading higher by 1.72 percent and leading gains. Oil and coal products, telecommunications and other financials also saw a rise of more than 1 percent. South Korean stocks also traded higher, with the Kospi adding 0.2 percent. In Australia, the S&P/ASX 200 was up 0.2 percent, with gains in the heavily weighted financials sub-index buoying the broader benchmark. Mainland Chinese shares, meanwhile, pulled back after bouncing in the last session. The Shanghai Composite slipped 0.44 percent and the blue-chip CSI 300 eased by 0.52 percent.

In Currency Markets the U.S. dollar inched lower against a basket of currencies on Wednesday as its recent rally on concerns over escalating trade tensions showed signs of fading, while the offshore yuan held firm near a one-week high. The dollar was a touch lower even after the U.S. Trade Representative’s office said late on Tuesday that the U.S. would begin collecting 25 percent tariffs on another $16 billion in Chinese goods later this month. Since mid-April, the dollar index has risen more than 6 percent, as the Federal Reserve raised interest rates, supporting dollar-buying. In early trade on Wednesday, China’s offshore yuan and the Australian dollar were firm against the dollar.

In Commodities Markets oil prices held steady on Wednesday, supported by a report of rising U.S. crude inventories as well as the introduction of sanctions against Iran. Front-month U.S. West Texas Intermediate (WTI) crude futures were at $69.21 per barrel, up 4 cents from their last settlement. Brent crude oil futures were at $74.63 per barrel, down two cents after a 90 cent gain in the previous session. The U.S. government introduced a raft a new sanctions against Iran on Tuesday, targeting Iran’s purchases of U.S. dollars – in which oil is traded – metals trading, coal, industrial software and its auto sector. From November, Washington will also target Iran’s petroleum sector.

In US Equity Markets the S&P 500 inched nearer to a record high on Tuesday, lifted by Amazon, Alphabet and Microsoft, and by a strong second-quarter earnings season that fueled optimism about the U.S. economy’s strength. The S&P 500 ended the session at 2,858.45, just short of its January record of 2,872.87. The Nasdaq Composite added 0.31 percent to 7,883.66. Amazon.com added 0.80 percent. The Internet retail and infrastructure heavyweight provided the greatest lift to the S&P 500, followed by Alphabet and Microsoft. Tesla jumped 10.99 percent after Chief Executive Elon Musk said he was considering taking the electric car maker private.

In Bond Markets U.S. Treasury yields rose on Tuesday as investors scaled back their bond holdings on higher Wall Street stock prices and pressure to make room for $78 billion in coupon-bearing supply from this week’s quarterly government refunding. The U.S. Treasury Department sold $34 billion in three-year notes, the largest auction for the debt maturity in eight years, to mediocre demand. The Treasury will sell a record amount of 10-year debt worth $26 billion on Wednesday, and an all-time high of $18 billion in 30-year bonds on Thursday. The benchmark 10-year yield increased nearly 4 basis points to 2.975 percent.