Asian Stock Market: Major indices remain muted amid risk-off sentiment
|- Asia-pacific shares trade cautiously on Thursday.
- US dollar remains elevated after the Fed's mixed response to inflation.
- China is ready to work jointly with all parties to build a closer Belt and Road partnership.
Asian stocks were trading mixed with little or no movement on Thursday. The US dollar remains strong as Investors continue to analyze Fed official’s mixed view on inflation and its effect on future guidance on interest rates.
MSCI’s broadest index of Asia-pacific shares outside Japan recorded minute gains of 0.1%.
Japan’s Nikkei rose marginally with 0.046% gains, while Shanghai Composite lost 0.3%.
It is worth noting that S&P 500 Futures were trading at 4,241, up 0.24% for the day.
The US 10 year treasury yields remained below 1.5%, which kept the greenback gains limited. A clear direction in the US bond yields could help gain a clear picture of where equities are headed.
In the latest development, the US and China are believed to be discussing a possible meeting of US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi at a G20 meet in Italy next week.
Meanwhile, Chinese President Xi Jinping wrote a message to the Asia-pacific prominent leaders for a High-Level Conference on Belt and Road Cooperation. This move came after the severe criticism of Beijing policy in the G7 meeting in the previous week.
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