Global Indices Climbs on War Halt Talks, China Lifts Mood and FED Rates Hike Decision

Asian equities, U.S. Futures and European stocks extended gains after Kremlin hinted progress in peace talks and positive sentiment boosted in Asian equities after Chinese authorities vowed to support equity market.

Dmitry Peskov, Kremlin spokesman said Wednesday on Ukrainian proposal to become neutral country but retain its now military “could be viewed as a certain kind of compromise,”. This has brought optimism on war end.

Besides, Chinese authorities has come out to stabilize battered Chinese equities, vowing to spur economic growth and support equity market. Chinese tech index in the HSI index added record 20%.

The CSI300, HSI, SET, KOSPI and TOPIX is closed on optimism inching up by 4.32%, 9.08%, 1.43%, 1.44% and 1.46% respectively.

Futures contracts on the tech-heavy Nasdaq 100 climbed more than 2% while those on the S%P 500 crested 1%. Dow Jones on the other hand climbed nearly 300 points.

Treasury yields rose and the dollar slipped ahead of the Federal Reserve rates decision.

The U.S. Federal Reserves is expected to announce raising rates tonight by a quarter basis points to tame down inflation.

“We will be closely watching the Fed’s dot plot, which we expect to signal five or six interest-rate hikes this year, more than December’s projections but in line with market expectations,” wrote Lauren Goodwin, portfolio strategist at New York Life Investments, as reported by Bloomberg.

“A dot plot projecting more hiking would likely be a hawkish signal and could result in an earlier yield curve inversion.”

Both benchmark of crude oil slipped below $100 with the WTI trading at $95.86 per barrel while Brent is trading at $99.37 per barrel.