Asian benchmarks mostly rise after Wall Street pulls back and global uncertainty grows

Asian shares are mostly higher after Wall Street pulled back from its recent records as uncertainty was brewing in various regions including Iran. U.S. futures fell and oil prices also declined. Shares in Shanghai climbed and then fell after China reported its trade surplus rose to a record $1.2 trillion in 2025. Speculation is growing that Japanese Prime Minister Sanae Takaichi may call general elections soon. President Donald Trump announced he would impose a 25% tax on imports to the United States from countries doing business with Iran. On Tuesday, the S&P 500 fell 0.2% from its all-time high a day earlier. The Dow dropped 0.8% from its own record, while the Nasdaq composite slipped 0.1%.