Asia-Pacific markets traded mixed on Wednesday after Wall Street gained overnight, as investors assessed China industrial profits data.

China’s industrial profits slipped 1.5% from a year earlier in July, marking a notable recovery following months of steeper declines. 

Separately, steep U.S. tariffs on India are set to take effect. Additional tariffs of 25% are set to take effect Wednesday, pushing overall duties on exports to the U.S. to 50%. Indian markets are closed for a holiday.

Japan’s Nikkei 225 slipped 0.17%, and the Topix lost 0.3%. South Korea’s Kospi declined 0.17% and the small-cap Kosdaq lost 0.16%.

Australia’s S&P/ASX 200 added 0.15%.

Hong Kong’s Hang Seng index was 0.27% higher, while the CSI 300 rose 0.4%.

Overnight stateside, the three major benchmarks ended the trading day higher. The S&P 500 closed higher as Wall Street looked beyond President Donald Trump’s removal of Federal Reserve Governor Lisa Cook from the central bank’s board and awaited quarterly figures from chip giant Nvidia.

The broad market S&P 500 settled up 0.41% at 6,465.94. The tech-heavy Nasdaq Composite also added 0.44% to end the day at 21,544.27. The blue-chip Dow Jones Industrial Average added 135.60 points, or 0.30%, to finish at 45,418.07.

— CNBC’s Sean Conlon, Sarah Min and Christina Cheddar Berk contributed to this report.