Asian stocks mostly tack on after Moody's China downgrade

Asian stocks mostly tack on after Moody's China downgrade

On Wednesday, Asian stocks mostly grew after Moody's downgraded China's credit rating. Additionally, market participants waited for minutes from the Fed as well as an approaching OPEC gathering.

Japan's Nikkei 225 headed north 0.56%, South Korea's Kospi grew 0.13% and Australia's benchmark S&P/ASX 200 index leapt 0.11%.

Ahead of the issue of the Fed’s minutes of its April gathering, scheduled for Wednesday, traders parsed Minneapolis President Neel Kashkari’s comments. He told that while the American economy is closer to full employment than it actually was in March, he’s concerned over the slower pace of core inflation amid a soar in employment.  

Thursday’s upcoming OPEC gathering turns to be another potentially market-moving event. Crude prices have been ascending on expectations that OPEC-led output cuts are going to be extended with non-OPEC major producer Russia also in the pact.

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