On Wednesday, Asia-Pacific markets mostly experienced upward movement as investors evaluated the effects of U.S. President Donald Trump’s tariffs on economies within the region.

In a recent statement, U.S. Federal Reserve Chair Jerome Powell reiterated the central bank’s commitment to controlling inflation, indicating that policymakers are not in haste to reduce interest rates.

In Australia, the S&P/ASX 200 index fluctuated around the neutral point.

Japan saw the Nikkei 225 increase by 0.28% as trading resumed following a holiday break, while the Topix index dipped by 0.22%. The Kospi in South Korea gained 0.23%, whereas the smaller Kosdaq index fell by 0.47%.

The Hang Seng Index in Hong Kong rose by 0.93%, while the CSI 300 in mainland China traded flat.

As for India, inflation data is set to be released for January, and SoftBank Group is scheduled to reveal its fiscal third-quarter earnings later today.

In the United States, the major stock indices closed with mixed results overnight. The S&P 500 edged up by 0.03%, concluding at 6,068.50, while the Nasdaq Composite fell by 0.36%, finishing at 19,643.86. The Dow Jones Industrial Average rose by 123.24 points, or 0.28%, closing at 44,593.65.

Powell’s remarks come during a tumultuous period in Washington, where President Donald Trump has advocated for tariffs on U.S. trading partners, coupled with mixed signals from the administration regarding its stance on the Federal Reserve.

Powell noted that the current monetary policy, with the Fed funds rate positioned between 4.25% and 4.5%, offers the flexibility needed for future adjustments. The Federal Open Market Committee maintained the rate during its January meeting.

— Reporting contributed by CNBC’s Jeff Cox, Pia Singh, and Hakyung Kim.