Asian equities rose on Wednesday, while the dollar was on the back foot after a steep spike overnight, with investors keenly awaiting minutes from the Federal Reserve’s most recent meeting to gauge the path forward for interest rates.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.91%, set for a third straight day of gains for the year. The index fell 20% in 2022. Japan’s Nikkei (.N225) lost 1.12% in early trade, while Australia’s S&P/ASX 200 index (.AXJO) rose 1.28%.
Overnight, Wall Street’s main indexes closed lower with the biggest drags from Tesla (TSLA.O) and Apple (AAPL.O) as U.S. equities make a slow start to the year after their steepest annual losses since 2008 in 2022.
China’s stocks (.SSEC) opened flat, while Hong Kong’s Hang Seng Index (.HSI) opened roughly 1% higher. Investors have pinned their hopes on a swift post-COVID era recovery in China after the country started dismantling strict curbs.