Asian Equities Higher after U.S Lead

Asian markets opened higher on Wednesday after Wall Street broke a three-day losing streak and as traders awaited key Chinese data.  U.S. stocks mostly advanced on Tuesday, with the S&P 500 and Nasdaq Composite halting their worst three-day rout since 2011 as investors considered earnings from JPMorgan Chase, Citigroup and Wells Fargo.

After a 142-point gain and 47-point fall, the Dow Jones Industrial Average finished flat. The S&P 500 added 0.2 percent, while the tech-heavy Nasdaq gained 0.3 percent.

In Asia, focus will likely fall on China’s inflation numbers due at 0930 Sin/HK. The consumer price index (CPI) for September is expected to rise 1.7 percent on year, according to estimates from National Australia Bank – slower than August’s 2 percent gain, which was a four-month low.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.