Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to...
BEIJING — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve’s chairman said it will raise interest rates further if needed to cool inflation.
The Nikkei 225 NIK in Tokyo gained 0.7% after the government reported economic output shrank 0.2% in the first three months of 2022. That was stronger than expectations.The Kospi 180721 in Seoul slipped 0.1% and Sydney’s S&P/ASX 200 XJO advanced 0.9%. Benchmark indexes in New Zealand NZ50GR , Singapore STI , Taiwan Y9999 and Indonesia JAKIDX advanced.
Expectations of rate hikes “ticked higher” due to Powell’s comments, but “markets are shrugging it off and are in need of a breather” after a sell-off, Yeap Jun Rong of IG said in a report.
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