Asian stocks today: Markets open on the higher end; Fed cut hopes outweigh trade war fears – The Times of India
Asian stocks jumped on Wednesday as trade war fears were overshadowed by comments from Federal Reserve Chairman Jerome Powell, who suggested the bank could cut interest rates again this month.Asian markets opened on the higher end (moderately), following Wall Street’s lead. Tokyo’s Nikkei 225 rose 1.3 percent to 47,463.31, Hong Kong’s Hang Seng gained 1.5 percent to 25,826.42, and Shanghai’s Composite added 0.4 percent to 3,881.03. Taipei, Seoul, Sydney, Singapore, and Wellington also advanced, reflecting renewed investor optimism. Shanghai rose despite data showing Chinese consumer prices fell in September, indicating weak consumer sentiment.After a volatile couple of days marked by fresh flare-ups in US-China tensions, investors returned to markets, resuming a months-long, tech-fuelled rally.