Asian shares were mostly higher following a rally on Wall Street as investors assessed minutes from the Federal Reserve’s latest meeting of policymakers and...
TOKYO — Asian shares were mostly higher following a rally on Wall Street as investors assessed minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on U.S. jobs.
Worries over China’s economic slowdown were weighing on regional sentiment, cutting into early-session gains.Japan’s benchmark Nikkei 225 NIK rose 0.3% in morning trading. Australia’s S&P/ASX 200 XJO edged up 0.1% and South Korea’s Kospi 180721 added 0.3%. Hong Kong’s Hang Seng HSI jumped 1%, while the Shanghai Composite SHCOMP gained 0.9%. Benchmarks in Malaysia FBMKLCI and Indonesia JAKIDX fell while Singapore STI and Taiwan Y9999 gained.
Widespread COVID-19 cases in China have added to gloom over a long-term slump in its property sector and over the impact of pandemic restrictions that were only recently loosened as the virus gained ground in the worst nationwide outbreak so far. On Wall Street, major indexes rallied following a government report showing that job openings increased more than expected in November. Stocks then shed some of their gains after the minutes from the Fed meeting last month underscored how the central bank remains determined to keep rates high to crush inflation.
The minutes from the mid-December meeting show Fed officials remained determined to keep rates high, taking little comfort from inflation’s decline from a peak of 9.1% in June to 7.1% in November.
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