Asian stock markets followed Wall Street higher on Wednesday as hopes rose that the Federal Reserve might ease off plans for interest rate hikes and Britain...
BEIJING — Asian stock markets followed Wall Street higher on Wednesday as hopes rose that the Federal Reserve might ease off plans for interest rate hikes and Britain installed its third prime minister this year.Wall Street’s benchmark S&P 500 index rose for a third day... BEIJING — Asian stock markets followed Wall Street higher on Wednesday as hopes rose that the Federal Reserve might ease off plans for interest rate hikes and Britain installed its third prime minister this year.
The new British prime minister, Rishi Sunak, warned Tuesday of a “profound economic crisis,” but his arrival appeared to reassure rattled markets. The battered pound edged higher against the U.S. dollar.The Nikkei 225 NIK in Tokyo rose 0.7% to 27,469 ahead of the expected release of a stimulus package this week that reportedly could exceed 20 trillion yen .Sydney’s S&P-ASX 200 XJO rose 0.1% to 6,8`0 after the government reported Australian inflation rose to 7.
The yield on the 10-year Treasury TMUBMUSD10Y , which influences mortgage rates, slipped to 4.08% from 4.23% late Monday. The yield on the two-year Treasury TMUBMUSD02Y , which tracks Federal Reserve action, fell to 4.45% from 4.50% late Monday. Traders have become more confident the Fed will reduce its rate hike plans from three-quarters to half a percentage point at its December meeting, according to CME Group.
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