Asian stocked gained while U.S. equity futures inched down on Wednesday as global bond markets stabilized from an unprecedented rout.
The CSI300, HSI, KOSPI, SET and TOPIX closed inching up by 0.50%, 1.21%, 0.92%, 0.00% and 2.33% respectively.
U.S. future contracts on the S&P 500 pointed lower after the index clawed back half the decline that started in January.
U.S. 10-year Treasury yields slipped to 2.36% after surging to highs unseen since mid-2019.
“We are positive for equities for this year,” Seema Shah, Principal Global Investors chief strategist, said on Bloomberg Television, as reported by Bloomberg.
While the market may be more challenged in 2023 and recession risks are rising, “we still think the U.S. economy is pretty good fundamentally,” she said.
On the Ukraine front, President Joe Biden and allies meeting Thursday in Brussels are expected to announce new sanctions against Russia over its invasion of Ukraine and fresh measures designed to keep the Kremlin from sidestepping existing economic penalties.
Crude oil pushed higher on the risk of fresh curbs on Russia, WTI is trading around $111 a barrel while Brent is trading around $118 a barrel.
