Australian equities are poised to open higher on Wednesday as Wall Street gained after China's response to the Trump administration's tariffs.
China is imposing a 15% tariff on coal and liquefied natural gas products and a 10% tariff on crude oil, agricultural machinery, and large-displacement cars as a retaliation to US President Donald Trump's new tariffs announced last week.
Wall Street somewhat recovered on Tuesday, with the Nasdaq Composite up 1.4%, the S&P 500 gaining 0.7%, and the Dow Jones Industrial Average rising 0.3%.
On the local economic front, the seasonally adjusted S&P Global Australia Services PMI Business Activity Index rose to 51.2 in January from 50.8 in December 2024.
The selected living cost indexes report for December 2024 is due for release at 11:30 am Sydney time.
In corporate news, Pinnacle Investment Management Group (ASX:PNI) reported Tuesday fiscal half-year earnings of AU$0.367 per diluted share, up from AU$0.153 per diluted share a year earlier.
SKY Network Television (NZE:SKT, ASX:SKT) Chief Financial Officer Ciara McGuigan has resigned, effective immediately, according to a Wednesday filing with the Australian and New Zealand bourses.
Australia's benchmark index lost 0.06%, or 5.40 points, Tuesday to close at 8,374.
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