Asian shares rise after gains on Wall Street as corporate profits pile higher

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Shares were mixed Wednesday in Asia after U.S. stocks rose again as companies reported stronger-than-expected profits.

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U.S. futures fell and oil prices also edged lower.

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Uncertainty around President Donald Trump’s trade war limited gains in U.S. stocks. So did a drop in consumer confidence and a weak update on how many job openings U.S. employers were advertising at the end of March.

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Tokyo’s Nikkei 225 index edged 0.1% higher to 35,871.74.

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Japanese automakers’ shares fell even after Trump signed an order relaxing some U.S. tariffs on imports of autos and auto parts.

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In Hong Kong, the Hang Seng lost 0.3% to 21,941.40, while the Shanghai Composite index slipped 0.1% to 3,283.51.

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South Korea’s Kospi dropped 0.6% to 2,548.88, while the S&P/ASX 200 in Australia picked up 0.2% to 8,086.90.

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Taiwan’s Taiex was up 0.4%.

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On Tuesday, U.S. stocks rose again. The S&P 500 climbed 0.6% to 5,560.83 as its winning streak extended to a sixth day. The Dow Jones Industrial Average added 0.7% to 40,527.62. The Nasdaq composite rose 0.5% to 17,461.32.

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CEOs say they’re unsure how long their companies can keep piling up profits due to the lack of clarity about Donald Trump’s trade war.

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Honeywell International helped lead the market with a gain of 5.4% after reporting stronger profit and revenue for the latest quarter than analysts expected. It also raised its forecast for profit over the full year.

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Sherwin-Williams rose 4.8% for another one of the market’s bigger gains after the paint and coatings company likewise reported a better-than-expected profit.

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UPS stock swung between losses and gains at the day’s start of trading after it reported a stronger profit than analysts expected for the first three months of 2025. Because it’s the world’s largest package delivery company, UPS can offer a window into how the global economy is doing.

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But UPS also said it wasn’t updating its financial forecasts previously given for 2025 because of “the current macro-economic uncertainty.” It also said it expects to cut about 20,000 jobs and close 73 buildings this year. Its stock finished 0.4% lower.

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Investors fear Trump’s tariffs could bring a recession if left unaltered because they could freeze global trade and send prices higher for all kinds of products. And Trump’s on-again-off-again rollout could by itself throw into disarray the long-term plans for spending and investment by businesses and households.