Asia stocks gain on rate cut wagers, yen stays near 38-year lows

SINGAPORE - Asian stocks rose on Wednesday as comments from Fed Chair Jerome Powell reinforced expectations that U.S. rate cuts were not far off, while the yen remained pinned near levels last seen in 1986, keeping traders wary of Japanese intervention.

Michael Brown, senior research strategist at Pepperstone, said Powell's remarks sounded, at the margin, just a touch more dovish than those made as of late. Chinese stocks fell in early trading, with the blue-chip CSI 300 index down 0.27%. Hong Kong's Hang Seng was 0.3% higher. Traders have been on the lookout for signs of Japanese authorities intervening in the currency market to prop up the frail yen, with some analysts suggesting that the line in the sand might be further away than current levels.

Data on Tuesday also showed euro zone inflation eased last month but a crucial services component remained stubbornly high, likely fuelling concern among some policymakers that domestic price pressures could stay at elevated levels. Brent crude oil futures rising 0.44% to $86.62 a barrel, while U.S. West Texas Intermediate crude futures were 0.41% higher at $83.15 per barrel.NEW YORK — Ivanka Trump broke her weekslong silence regarding her father’s recent hush money criminal conviction during a podcast appearance released Tuesday. The former White House staffer said the experience has been agonizing.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil price news: Oil steady before U.S. market outlook and Wednesday's Fed decisionOil held the biggest jump since March ahead of market outlook reports and as the Organization of the Petroleum Exporting Countries maintained a forecast for strengthening demand.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Asia stocks rally, bond yields fall as investors assess Fed outlookAsian equities rallied on Thursday, while bond yields slid, as investors weighed cooling U.S. inflation against a more hawkish posture by the Federal Reserve...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asia Stocks Poised to Follow US Higher Post-Fed: Markets WrapAsian stocks are set to track US peers higher as the Federal Reserve’s cautious outlook on interest rates did little to alter Wall Street’s bets on cuts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Asia Stocks Poised to Follow US Higher Post-Fed: Markets Wrap(Bloomberg) -- Asian stocks are set to track US peers higher as the Federal Reserve’s cautious outlook on interest rates did little to alter Wall Street’s...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »