Asian stocks were steady early Wednesday after reassuring comments on inflation and monetary policy from Federal Reserve officials. The dollar and Treasury yields held declines.
Japanese and South Korean stocks fluctuated, while Australian shares retreated. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.33% at 15,821.50 as of 7:15 a.m.
U.S. equity contracts edged up after the S&P 500 climbed a second day as Chair Jerome Powell reiterated his views that inflation pressures will be transitory even after a notable increase in recent months.
Oil traded around $73 a barrel after an industry report pointed to another decline in U.S. crude stockpiles. Bitcoin rebounded from a tumble below $30,000.