Asian Markets Rise, Led by Japan's Nikkei
Asian shares rose on Wednesday, led by a 2% gain in Japan's Nikkei 225 after U.S. stocks rallied for a second straight day.
Japan's Nikkei 225 jumped 2.1%, with the yen hovering at 34-year lows.
Australia's S&P/ASX 200 index rose 0.3% after inflation eased for the fifth consecutive quarter.
South Korea's Kospi added 1.9%, led by Samsung Electronics.
Hong Kong's Hang Seng gained 1.3%, while the Shanghai Composite index was up 0.2%.
U.S. Markets Rally on Earnings and Economic Data
The S&P 500 climbed 1.2%, the Dow Jones Industrial Average rose 0.7%, and the Nasdaq composite jumped 1.6%. A weaker-than-expected report on U.S. business activity and strong earnings reports supported the market.
Interest Rate Concerns Remain
Top Federal Reserve officials warned that interest rates may need to stay high for a while to control inflation. This dampened hopes for rate cuts this year.
Other Market Movements
The yield on the 10-year Treasury fell to 4.59%. U.S. benchmark crude oil lost 1 cent to $83.35 per barrel. The U.S. dollar was unchanged at 154.82 Japanese yen. The euro rose to $1.0706 from $1.0701.