This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets fell Thursday, as investors weighed U.S. President Donald Trump's proposed tariffs on autos, chips and pharmaceutical imports as well as the Federal Reserve potentially keeping rates higher for longer.

Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.

Japan's benchmark Nikkei 225 and broader Topix index ended the day in negative territory for the second day. The Nikkei 225 closed 1.24% lower at 38,678.04, while the broader Topix index fell 1.18% to 2,734.60.

The yen rose to a more than two-month high of 150.52 per U.S. dollar earlier in the day amid bets of more rate hikes by the Bank of Japan this year.

In South Korea, the Kospi closed down 0.65% at 2,654.06, while the small-cap Kosdaq lost 1.28% to end the day at 768.27.

Mainland China's CSI 300 dipped 0.29% to close at 3.928.90, while Hong Kong's Hang Seng Index fell 1.60% to 22,576.98.

Australia's S&P/ASX 200 declined for the fourth straight day. The index closed 1.15% lower at 8,322.80.

The country's seasonally adjusted unemployment rate rose to 4.1% in January, in line with Reuters' estimates.

Indian stocks were also in negative territory, with the Nifty 50 down 0.15%, while the BSE Sensex index fell 0.31% as at 2.15 p.m. local time.

Overnight in the U.S., stocks continued to rise even as the Federal Reserve meeting minutes showed the bank was concerned about U.S. President Donald Trump tariffs, and would prefer a further decline in inflation before lowering rates.

The S&P 500 rose 0.24%, settling at 6,144.15 and earning its second record close in a row. The index also touched a fresh all-time high during the session. The Nasdaq Composite added 0.07% to close at 20,056.25, while the Dow Jones Industrial Average advanced 71.25 points, or 0.16%, to end at 44,627.59.

— CNBC's Brian Evans and Pia Singh contributed to this report.

Japanese and South Korean auto stocks slide on concerns over Trump tariffs

Japanese and South Korean auto stocks fell Thursday as U.S. President Donald Trump's proposed tariffs raise the specter of denting car sales.

Japan's Nissan Motor led declines, down 3.45%, Mazda Motor fell 1.89%, while Toyota Motor dropped 1.83%. Shares in Honda Motor and Mitsubishi Motors were also in the negative territory, losing 1.59% and 1.37%, respectively.

Suzuki Motor, however, bucked the trend to rise 1.12% as Reuters reported the company's plan to increase its global sales by nearly a third to 4.2 million in five years. The company expects 60% of the sales to be in India, the report added.

In South Korea, Hyundai Motor and Kia Corp fell 0.98% and 0.84%, respectively.

— Amala Balakrishner

KKR acquires 57.92% stake in Fuji Soft

KKR has secured a 57.92% stake in Fuji Soft after the second stage of its tender offer bid against Bain Capital to take the Japanese software developer private, Reuters reported.

The U.S. private equity firm previously held a 35% stake in Fuji Soft after the first of its two-stage buyout. It reportedly raised its tender offer price by 4.2% to 9,850 yen ($63.44) per share on Feb. 4, to rival the 9,600 yen bid made by Bain Capital in December.

Bain said on Monday that it would withdraw its takeover proposal, according to Reuters.

Shares in Fuji Soft ended the day flat.

— Amala Balakrishner, Reuters

Shares in Chinese food delivery companies Meituan and JD.com drop following plans to provide social security benefits for workers

Shares in Chinese food delivery operators Meituan and JD.com fell as much as 6.92% and 2.2% on news that both companies plan to provide social security benefits to some workers.

JD.com — which launched its food delivery service JD Takeaway earlier this month — announced Wednesday plans to provide full-time food delivery workers with insurance and housing fund contributions, starting Mar. 1. Part-time workers, it added, will receive accident and health insurance.

Meanwhile, reports from state media Caixin Daily indicate that Meituan will begin providing benefits to its full-time and part-time workers in the second half of the year.

— Amala Balakrishner

Australia’s job additions in January sharply exceed market expectations

Australia added 44,000 jobs in January, far exceeding Reuters poll estimates of 20,000 additions, data released by the Australian Bureau of Statistics showed Thursday.

The seasonally adjusted jobless rate climbed 4.1%, in line with Reuters estimates, and higher than the previous month.

— Amala Balakrishner

China keeps benchmark lending rates steady as PBOC prioritizes financial stability

China kept its key lending rates unchanged Thursday, as Beijing prioritizes financial stability over interest rate easing to bolster the economy.

The People's Bank of China held the 1-year loan prime rate unchanged at 3.1%, and the 5-year LPR at 3.6%  

The benchmark lending rates — normally charged to banks' best clients — are calculated monthly based on designated commercial banks' proposed rates submitted to the PBOC. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.

The decision on Thursday was in line with expectations Reuters poll estimates.

Read the full story here.

— Anniek Bao

JGB 10-year yields hit 15-year high, amid calls for higher rates

The yield on 10-year Japanese government bonds (JGBs) rose 0.002 percentage point to touch 1.434% — a new 15-year high.

The yield on five-year JGBs was hovering at around 1.07%.

This comes after Bank of Japan board member Hajime Takata reportedly said on Tuesday that the Japanese central bank needs to raise interest rates further as keeping them low at current levels could result in excessive risk-taking and higher inflation.

— Amala Balakrishner

South Korea's producer price index rises 1.7% year on year in January

South Korea's wholesale inflation rate climbed 1.7% year on year in January, same as in December.

Preliminary figures from the Bank of Korea show that gains were led by sectors such as livestock products and coal and petroleum as well as electric power, gas, water and waste.

— Amala Balakrishner

S&P 500 notches another record close

The S&P 500 earned another record-high close on Wednesday as investors shook off worry tied to inflation and U.S. trade policy.

The broad market index added 0.24% to close at 6,144.15, while the Nasdaq Composite gained 0.07% to 20,056.25. The Dow Jones Industrial Average advanced 71 points, or 0.16%, to finish the session at 44,627.59.

— Brian Evans

Palantir falls as much as 12.9%, most in more than nine months, on defense spending worries

High-flying Palantir Technologies slumped as much as 12.9% Wednesday, on pace for its largest loss since May 2024.

The move followed a Washington Post report that the Trump Administration and its Defense Secretary Pete Hegseth are ordering senior Pentagon officials "to develop plans for cutting 8% from the defense budget in each of the next five years." 

Separately, Palantir filed notice with the U.S. Securities and Exchange Commission on Tuesday that CEO Alex Karp adopted a trading plan in mid-December allowing him to sell as many as 9.975 million shares through mid-September 2025.

Even with Wednesday's loss, Palantir remains 48% higher in 2025 after soaring 340% in 2024 and 167% in 2023.

— Scott Schnipper, Adrian van Hauwermeiren