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Shares in Asia followed Wall Street shares by rising slightly after US inflation cooled ahead of a policy decision from the Federal Reserve later on Wednesday.
Asian markets opened in the green on Wednesday, as Japan’s Nikkei 225 rose 0.15%, while Australia’s ASKS was flat, trading at 0.06%, at 6:18 am IST.
US stocks went through a volatile session on Tuesday. The S&P 500 rose 0.3%, while the tech-heavy Nasdaq 100 gained 0.4%. Meanwhile, the yield on the 10-year Treasury fell 12 basis points to 3.50%.
Oil rose 3.6% as US inflation moderated and demand rebounded with China’s reopening. Gold futures rose 1.4%, while bitcoin rose 3.1% to around $17,700.
Domestic benchmarks pared losses to finish in the green after two days of declines, with market breadth in favor of the bulls.
The rupee continued to depreciate against the US dollar on currency outflows and expectations around the Fed’s policy announcement.
At 6:13 am, the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — was up 0.29% at 18,756.
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