Latest News Australia leads gains as most Asia-Pacific markets rise; South...

Australia leads gains as most Asia-Pacific markets rise; South Korea sees continued losses


- Advertisment -


SINGAPORE — Stocks in Asia-Pacific mostly rose in Wednesday morning trade as investors react to recent comments from Federal Reserve Chairman Jerome Powell.

Shares in Australia led gains among the region’s major markets, with the S&P/ASX 200 in Australia jumping 1.84%.

Mainland Chinese stocks were also higher, with the Shanghai composite rising fractionally while the Shenzhen component added 0.233%. Hong Kong’s Hang Seng index gained around 0.1%.

Elsewhere, however, South Korea’s Kospi shed 0.49%, adding on to losses following Tuesday’s decline of more than 2%.

Stocks in Japan were also lower in their first trading day of the week following holidays on Monday and Tuesday. The Nikkei 225 slipped 0.61% while the Topix index dipped 0.55%.

Overall, the MSCI Asia ex-Japan index traded 0.27% higher.

In a prepared testimony, the Fed’s Powell said the central bank remains committed to supporting the economy  through its tools “for as long as it takes.” He also noted that “many economic indicators show marked improvement,” though the path forward “continues to be highly uncertain.”

READ MORE  Asia-Pacific shares trade higher as Samsung reports third-quarter profit likely jumped

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 94.131 following its rise earlier this week from levels below 93.5.

READ MORE  China bars media coverage of Disney's 'Mulan' after Xinjiang backlash

The Japanese yen traded at 105.17 per dollar following a weakening from levels around 104.4 against the greenback yesterday. The Australian dollar changed hands at $0.714, having weakened from levels above $0.725 this week.

Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.62% to $41.46 per barrel. U.S. crude futures shed 0.63% to $39.55 per barrel.


Source link

Leave a Reply

READ MORE  Investor Baillie Gifford bets more on China as Asia draws more capital in a post-coronavirus world

Latest news

- Advertisement -

Mail-in voting amplified Red and Blue Vermont; the effect turned out to be fairly even

  While many Vermont Republicans expressed concern last spring about expanding the state’s vote-by-mail system for the general election, politicians...

‘Murder on Middle Beach’ director was ‘willing to do whatever it takes’ to probe mom’s murder

With HBO’s four-part docuseries, “Murder on Middle Beach,” premiering Sunday, the 29-year-old Connecticut director explores the life...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you