Asian stocks cut losses on Thursday after Fed minutes eased fears that the aggressive rates hike and as Russia-Ukraine tensions are kept at bay.
The Fed’s meeting minutes showed, it was in favor of increasing interest rates and initiating a “significant” reduction in balance sheet that could begin later this year. The meeting minutes noted members were only to move towards a faster rates hike if inflation does not cool down.
The CSI300, HSI and KOSPI is trading higher by 0.31%, 0.48% and 1.32% respectively. The TOPIX is down marginally by 0.36%.
MSCI broad market index ex Asia is on the higher end by 1.21%.
The S&P 500 rose 0.1%, the Dow Jones Industrial Average slipped 0.16%, or 5 points, the Nasdaq Composite fell 0.1%.
Crude oil prices are sharply down cutting expectation of $100 per barrel, with WTI down by 2.27% to $91.53 and Brent down by 2.14% to $92.78 per barrel.
