Markets in the Asia-Pacific region rose in early trading on Wednesday, led by overnight gains in US stocks. Additionally, traders are eagerly awaiting the release of the April US Consumer Price Index later today, which will provide further clues about the Federal Reserve’s future policy.
As of 6:35am, the Nikkei 225 was trading 280.31 points or 0.73% higher at 38,636.37 and the S&P ASX 200 was trading 41.90 points or 0.54% higher at 7,768.70 as of 6:35am. KOSPI rose 3.13 points or 0.11% to 2,730.34.
On Wall Street, stock indexes ended higher on Tuesday, pushing out producer price index data as big tech stocks rose, according to Bloomberg.
As of Tuesday, the S&P 500 Index and Nasdaq Composite Index were up 0.48% and 0.75%, respectively. The Dow Jones Industrial Average rose 0.32%.
Brent crude oil was trading 0.34% higher at $82.72 per barrel. Gold rose 0.09% to $2,356.10 an ounce.
Gift Nifty was trading 11 points or 0.05% higher at 22,383.50 as of 6:39 a.m.
India’s benchmark stock index rose for the third straight session on Monday, with Reliance Industries shares leading the gains. NSE Nifty 50 rose 113.80 points or 0.51% to end at 22,217.85 and S&P BSE Sensex rose 328.48 points or 0.45% to end at 73,104.61. The Sensex regained the 73,000 level after his three sessions.
Foreign investors remained net sellers of Indian stocks for nine consecutive sessions on Tuesday. Foreign portfolio investors sold shares worth Rs 4,065.5 million. According to NSE data, domestic institutional investors remained net buyers for 16 consecutive sessions, buying up shares worth Rs 3,527.90 crore.
The Indian rupee closed flat against the US dollar at $83.51.
