Global Markets Mixed Amid Tariff Tensions and Economic Data

Asian stocks mostly declined on Wednesday as investors focused on upcoming U.S. economic data for interest rate cues, while Chinese markets rose despite U.S. tariff threats from President-elect Donald Trump. The U.S. stock index futures remained steady, with attention on the Fed's preferred inflation gauge and third-quarter GDP data. Trump's tariff plans on China, Mexico, and Canada raised concerns for export-driven Asian economies. Meanwhile, the Reserve Bank of New Zealand cut its cash rate by 50 basis points, signaling further easing, while South Korea's central bank is expected to maintain its current rate.