Asian stocks rallied on Wednesday, with Chinese indices rallying after heavy losses on Tuesday as investors watched bearish oil prices plummet in anticipation of the Federal Reserve’s monetary policy decisions.
On the board, the Japanese Nikkei 225 index rose 1.6% to 25,762.01 points.
Hang Seng in Hong Kong is up 8.8% after yesterday’s dive to a six-year low, while in mainland China the Shanghai Composite is up 3.5%.
South Korea’s Kospi rose 1.4%, while in Australia the S & P / ASX 200 gained 1.1%. Indicators in Singapore, Taiwan and Malaysia are also gaining ground.
All eyes are now on the US Federal Reserve, which is expected to make its first rate hike since 2018. Analysts expect a slight increase of 25 basis points, as geopolitical uncertainty over developments in Ukraine forces the Fed to be particularly careful in how it proceeds to tighten its policy in order to deal with the highest inflation of the last 40 years.
Meanwhile, oil prices are moving up again after yesterday’s slump below $ 100 a barrel and the their entry into a bear market. Brent rose 2.2% to $ 102.1 a barrel.
Investors are also watching the talks between Ukraine and Russia after yesterday’s optimistic statements by the Ukrainian side, which saw “margins of compromise” with the Russian side.
Source: Capital
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