Asian markets were see-sawing on Wednesday morning as traders were watching the trade data of Japan and Singapore.
Also, market participants’ sentiments were tempered as US Fed Chief Jerome Powell said, “a lack of further progress so far this year on returning to our 2% inflation goal.”
This might erode investors’ confidence as comments by Jerome Powell indicated that current interest will stay higher for longer unless inflation gets closer to target.
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Japan’s Nikkei 225 pulled back 0.61%, while the Topix nosedived 1.03%. South Korean Kospi continued losses, dropping 0.42%, but the broad-based Kosdaq was up 0.50%. Australia’s S&P/ASX 200 was trading marginally higher, up 0.095%.
Hong Kong’s Hang Seng index was trading a bit lower, down 0.067%, while the CSI 300 fell 0.69%.
