Asian markets opened higher on Wednesday after a quiet session on Wall Street as buying slowed after a broad rally the day before fueled by hopes that President Donald Trump’s tariffs may not be as sweeping as earlier feared.

U.S. stocks have recovered a chunk of their losses since falling 10% below their all-time high earlier this month, for their first “correction” since 2023. The S&P 500 is now down 6% from its record,

World shares are mixed, with Chinese markets retreating following a broad rally on Wall Street. U.S. futures edged lower and oil prices advanced. On Monday, the S&P 500 jumped 1.8%.