Most Asia-Pacific markets rebounded Wednesday after the Federal Reserve Chair Jerome Powell indicated that the US is returning to a disinflationary trajectory. This affirmed hopes of monetary easing in the world’s largest economy.
Moreover, Powell’s remarks came at a time when US Job Opening and Labor Turnover Survey showed new jobs increased in May, showcasing underlying strength of the labour market.
The Nikkei 225 was trading 278.19 points or 0.69% higher at 40,352.88, and the S&P ASX 200 was trading 9.60 points or 0.12% higher at 7,727.80 as of 06:45 a.m.
The markets were little changed on Tuesday with the S&P 500 index and Nasdaq Composite rising 0.62% and 0.84%, respectively. The Dow Jones Industrial Average rose 0.41%.
Brent crude rose 0.27% higher at $86.47 a barrel. Gold rose 0.07% to $2,331.18 an ounce.
The GIFT Nifty was trading 10.0 points or 0.04% lower at 24,342.00 as of 06:45 a.m.
The Indian benchmark equity indices ended a volatile session flat on Tuesday after hitting record highs in early trade as shares of banks weighed on them.
The NSE Nifty 50 ended 18.10 points, or 0.07%, lower at 24,123.85, while the S&P BSE Sensex closed 34.74 points, or 0.04%, down at 79,441.45.
Overseas investors stayed net sellers of Indian equities for the third consecutive day on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 2,000.1 crore, while domestic institutional investors stayed net buyers for the third session and bought equities worth Rs 648.3 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened 6 paise to close at Rs 83.50 against the US dollar.
