Recovering sell-offs, share indices in Asia-Pacific region rose on Thursday after the Federal Reserve Chair Jerome Powell indicated rate cuts are imminent this year.
The Nikkei 225 was trading 749.38 points or 1.90% higher at 40,201.23, and the S&P ASX 200 was up 39.00 points or 0.50% up at 7,821.50 as of 06:32 a.m.
Powell said the recent strong inflation report did not “materially” change the broader picture offered for risk assets. However, the central bank will adhere to wait and watch mode before pulling down the borrowing cost, Bloomberg reported.
The S&P 500 Index and Nasdaq Composite rose 0.11% and 0.23%, respectively, as of Wednesday. The Dow Jones Industrial Average fell by 0.11%.
Brent crude was trading 0.24% higher at $89.59 a barrel. Gold gained 0.10% at $2,302.33 an ounce.
The GIFT Nifty was trading 44 points or 0.2% higher at 22,599.00 as of 6:37 a.m.
India’s benchmark indices ended little changed amid volatility on Wednesday, ahead of the Fed Chair’s speech at the Macroeconomics and Monetary Policy Conference.
The NSE Nifty settled 18.65 points, or 0.083%, lower at 22,434.65, and the S&P BSE Sensex declined 27.09 points, or 0.037%, to end at 73,876.82.
Overseas investors sold stocks worth Rs 2,213.56 crore and domestic institutional investors remained net buyers for the eleventh day and mopped up equities worth Rs 1,102.41 crore, the NSE data showed.
The Indian currency weakened by 5 paise to close at 83.43 against the dollar.
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