Asia-Pacific markets opened higher on Wednesday, tracking gains on Wall Street on expectations that U.S. President Donald Trump's tariffs could be softer than previously expected.

Australia's S&P/ASX 200 opened 0.71% higher.

Japan's Nikkei 225 rose 0.63% at the open, while the Topix gained 0.39%. South Korea's Kospi rose 0.38% while the small-cap Kosdaq traded 0.28% lower.

Hong Kong's Hang Seng Index futures were at 23,478, also higher than the HSI's last close of 23,344.25.

The White House's planned tariffs set for April 2 are expected to be limited in scope, according to reports from The Wall Street Journal and Bloomberg. Trump also suggested some "flexibility" to his reciprocal tariff plans for trading partners on Friday. However, U.S. consumer confidence is taking a hit.

"As President Trump prepares to escalate the trade war next week, U.S. consumers are growing weary of inflation, their finances are more fragile, and they face higher risks in the labor market," Morning Consult wrote in a note, adding that U.S. consumers are expected to cut spending across all income brackets.

U.S. stock futures were little changed after the S&P 500 posted a marginal gain, marking its third straight positive session.

Overnight in the U.S., all three major indexes closed higher. The S&P 500 posted a slight gain, rising 0.16% to close at 5,776.65. The Nasdaq Composite gained 0.46% to end at 18,271.86. The Dow Jones Industrial Average climbed 4.18 points, or 0.01%, to close at 42,587.50. (Newsmaker23)

Source: CNBC