Asian Stock Market: Displays mix signals as S&P futures correct ahead of Fed Powell, oil below $75.00

, scheduled for Tuesday. The risk profile seems favoring safe-haven assets amid soaring anxiety among investors as Fed Powell’s speech may provide cues about likely monetary policy action for the February meeting.

This time, the Fed Powell’s speech holds decent weightage as the United States economy is facing a slowdown and wage inflation has been trimmed, which was acting as a major barrier for Fed policymakers in their vision towards price stability. At the press time, Japan’s Nikkei225 jumped 0.70%, ChinaA50 eases 0.20%, Hang Seng dropped 0.24%, and Nifty50 slipped 0.52%.

Chinese stocks are displaying a subdued performance despite rising Gross Domestic Product projections. Analysts at Morgan Stanley have raised theirfor China’s GDP this year to above 5.0%. A note from Morgan Stanley states that the removal of barriers to the housing/property sectors and recovery from COVID zero will strengthen China's economic recovery, which will solidify starting from the second quarter of CY2023.

Meanwhile, Japanese stocks have gained strength despite a lower-than-projected jump in Tokyo’s Consumer Price Index . The headline annual CPI has landed at 4.0% lower than the consensus of 4.5% but higher than the prior release of 3.8%. While the core CPI has remained in line with expectations at 2.7%. For further assistance, investors will keep an eye on the speech from Bank of Japan Governor HaruhikoOn the oil front, the oil price has extended its downside to near $74.

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