Asian markets were trading mostly higher in early deals on Wednesday ahead of the release of inflation data from the United States that will offer a guide to how aggressively the Federal Reserve will raise interest rates. US dollar hovered near a two-decade high against its major peers today, while Crude oil prices declined due to demand concerns as the market worried about economic recession and uncertainty about an embargo on Russian oil by the European Union. However, concerns over rising interest rates, persistent inflation and fears of a global economic slowdown capped further gains in Asian markets.
Nikkei 225 up by 102.49 points or 0.39% to 26,269.59, Hang Seng rose by 358.40 points or 1.83% to 19,992.09, KOSPI increased by 1.49 points or 0.06% to 2,598.05, Jakarta Composite jumped 40.81 points or 0.6% to 6,860.60, Shanghai enlarged by 56.96 points or 1.88% to 3,092.80, and KLCI higher by 2.32 points or 0.15% to 1,556.90.
On the flip side, Straight times down by 18.25 points or 0.56% to 3,215.94; and Taiwan curtailed by 35.08 points or 0.22% to 16,026.62.
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