Asian shares head north

Asian shares head north

On Wednesday, Asian stocks traded mostly higher because sturdy earnings along with manufacturing data spurred risk appetite, while hopes that the Fed will signal a June rate surge later in the session underpinned the greenback.

Crude prices pulled higher after a steep drop on Tuesday, following technical selling in a market already concerned over oversupply and following a soar in output from several members of the OPEC.

Outside Japan MSCI's broadest index of Asia-Pacific stocks was moderately lower on Wednesday.

The MSCI World index managed to surpass Tuesday's record to reach a new peak on Wednesday.

Hong Kong as well as South Korea are closed for the Buddha's birthday, while Japan’s unavailable from Wednesday for the Golden Week holiday until Friday.

Taiwan ascended 0.1%. Besides this, Malaysia, Singapore and Thailand were traded higher too, though Chinese stocks pulled back nearly 0.3%.

Australian shares lost 1%, unable to spot fresh catalysts to bring it above a two-year peak reached on Monday.


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