Asian Stock Market: Shows all-round recovery as Fed to remain less hawkish, oil struggles near $68.00

the attempts of reviving the collapsed banks. In Eurozone, UBS has agreed to acquire Credit Suisse for $3.2 billion in a rescue deal. And, various financial institutions have pumped $30 billion to save First Republic Bank.

At the press time, ChinaA50 jumps 0.60%, Hang Seng inched up by 0.08%, KOSPI gained 0.31%, and Nifty50 added 0.36%.Rising uncertainty over the monetary policy announcement by the Federal Reserve is squeezingfrom the market. Fresh concerns about global banking turmoil are bolstering the case of an unchanged monetary policy stance. As per the CME Fedwatch tool more than 70% odds are favoring a 25 basis point interest rate hike on Wednesday.

On the oil front, oil prices have recovered firmly after printing a fresh 15-month low below $65.00. The oil price is struggling to extend recovery above $68.00, however, the upside looks solid. A recovery in oil price has been observed amid expectations thatInformation on these pages contains forward-looking statements that involve risks and uncertainties.

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