Asian stocks were largely steady Wednesday after softer economic data weighed on U.S. equities. Treasuries trimmed a rally spurred by Federal Reserve officials again predicting transitory price pressures.
Shares fluctuated in Japan and climbed in Hong Kong. Chinese equities edged up after surging the most since July on Tuesday. U.S. equity contracts rose and Nasdaq 100 futures outperformed, after the S&P 500 slipped and the tech-heavy gauge made a small gain.
India’s SGX Nifty 50 Index futures for May delivery fell 0.3% to 15,199.50, while MSCI Asia Pacific Index +0.2%. The NSE Nifty 50 Index added 0.1% Tuesday to 15,208.45.
Treasury yields remain below this year’s peaks, with more Fed officials joining a chorus downplaying price pressures. A dollar gauge touched the lowest level since early January.
Oil was steady and gold erased 2021 losses. Bitcoin climbed toward $40,000 in a partial recovery from last week’s crypto rout.
Back home, Thermax, AstraZeneca, Bayer Crop, Godawari Power, VIP may react as the companies reported quarterly results after the market closed Tuesday. BPCL, Berger Paints, Cummins, Manappuram, V-Guard, Pfizer are among the companies scheduled to report earnings Wednesday. Foreign investors bought net Rs 1,120 crore of stocks on Monday, according to NSDL website.