Stocks rose in Asia as Chinese technology shares rebounded from brutal selloff, however investors remains ready for volatility surrounding Russia’s war in Ukraine and ahead of Federal Reserver’s rate hike decision.
The CSI300 is marginally down by 0.20% while the HSI, KOSPI and TOPIX is trading higher by 2.49%, 0.74% and 1.54% respectively.
Futures of S&p500, Nasdaq 100 and European futures are steady following a Wall Street advance on Tuesday.
Although Chinese equities rallied, however regulatory fears and speculations still remains.
The Fed is expected to increase rates a quarter point which would be the first time since 2008, but there is less certainty beyond that. The market expects total of seven such rates hike this year, policy markers at Fed also need to factor in growth risks from the war in Ukraine.
“The confluence of events leading in to this meeting puts policy makers in a very unenviable position,” Matt Rowe, executive director at Nomura Securities International Inc., said on Bloomberg Television, as reported by Bloomberg.
“It’s being publicly debated whether if you create a recession to push the number down to 2%, is that actually a policy error?” he added, referring to inflation.
U.S. West Texas Intermediate (WTI) crude pared recent losses but remained below $100 a barrel. While Brent trading slight above $100.
