A market rebound that started on Wall Street continued in Asia on Wednesday after President Trump said he had “no intention” of firing the Federal Reserve chair, Jerome H. Powell.

The statement, along with reports that Treasury Secretary Scott Bessent told investors that he expected the tariff standoff with China to ease “over the very near future,” helped calm the latest trade war jitters. The 2.5 percent gain by the S&P 500 on Tuesday reversed the previous day’s 2.4 percent slide.

The positive wave moved across most of Asia. Japan’s Nikkei 225 gained 1.7 percent, Hong Kong’s Hang Seng was up 2.4 percent, and the Kospi in South Korea 1.5 percent.

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