Asian markets slipped on Wednesday tracking mixed performance of U.S. equities as higher U.S. treasury yields weighed on global teach firms as well as incentivized dollar to a five year high against the Japanese yen.
Broad market index MSCI Asia ex Japan inched up by 0.44% to 632.30 points. The SET and TOPIX closed on moderately positive note up by 0.39% and 0.45% respectively. The KOSPI, CSI300 and HSI posted loss down by 1.18%, 1.01% and 1.64% respectively.
European stocks one the other hand rose while U.S. futures shed losses.
Dow Jones, S&P 500 futures are trading up by 0.13% and 0.07% while Nasdaq 100 is tracking losses down by 0.11%.
Treasuries were steady Wednesday after yields rose amid increasing conviction the Fed will raise rates at least three times beginning in May to counter price pressures.
Crude oil prices were little changed after OPEC+ maintained its previous decision to boost production in February. WTI inched down by 0.22% to $76.81 per barrel while Brent inched down by 0.16% to $79.88 per barrel.
Traders eyes FOMC meeting minutes which is scheduled to be released on Wednesday overnight.
