Stocks rose in Asia Wednesday as Chinese technology shares rebounded from a brutal selloff. Investors also remain braced for volatility surrounding Russia’s war in Ukraine and a looming Federal Reserve
An Asia-Pacific share gauge snapped a three-day drop and a Hong Kong index of Chinese tech firms added about 5%.
S&P 500 and Nasdaq 100 futures were steady after a Wall Street advance on Tuesday, while Europe contracts climbed.
China’s equities have been under severe pressure on regulatory fears and speculation that Beijing’s ties with Russia raise the risk of a U.S. backlash.
Questions remain about whether rallies will be anything more than temporary. West Texas Intermediate crude pared recent losses but remained below $100 a barrel. Signs that Iran nuclear talks may resume point to the possibility of more supply, while Covid lockdowns in China may curb demand.
Treasuries were little changed ahead of the Fed decision Wednesday. The offshore yuan got a boost from a report that Saudi Arabia will consider yuan payments for oil sold to China.
The dollar dipped and gold edged up. A quarter-point Fed rate increase, the first since 2018, to fight high inflation is widely anticipated but there’s less certainty beyond that.
