Asian Stock Market: Tracks Wall Street gains, Hang Seng leads bulls

Asia-Pacific equities remain firmer amid cautious optimism over Ukraine-Russia crisis, relief from China’s covid fears.
Hang Seng rises over 2.0% as Chinese tech shares consolidate recent losses.
Optimism among Japanese manufacturers propels Nikkei 225, oil recovers as well.
Fed’s action, geopolitics will be crucial for near-term directions.

Anil Panchal FXStreet

Asia-Pacific equities stay on the front foot during early Wednesday as easing covid woes in China helped the shares to track Wall Street’s gains.

Technology stocks in China are the major gainer while Hong Kong’s Hang Seng leads Asia-Pacific bulls with over 2.0% daily upside as Reuters mentions, “China reports 1,952 new coronavirus cases on March 15 versus 3,602 a day earlier.”

Elsewhere, MSCI’s Asia-Pacific shares ex-Japan rises 1.4% whereas Japan’s Nikkei 225 adds over 1.5% by the press time. Earlier in Asia, the Reuters Tankan poll showed that Japanese manufacturers' business confidence improved for the first time in three months in March.

It’s worth noting that Australia’s ASX 200 and New Zealand’s NZX 50 follow gains in China whereas Indonesia’s IDX and South Korea’s KOSPI also didn’t disappoint the regional mood. Further. India’s BSE Sensex is up around 1.5% at the latest amid hopes that the Reserve Bank of India (RBI) will step back from faster monetary policy tightening.

On a broader front, S&P 500 Futures drop 0.18% to 4,257 whereas the US 10-year Treasury yields snap seven-day uptrend around the highest levels since June 2019, down 1.8 basis points (bps) to 2.145% at the latest.

Looking forward, the US Retail Sales for February, expected to ease to 0.4% from 3.8% prior, will join risk catalysts and oil moves will help the global investors to find a clear path.

Read: The Yuan will not replace the US dollar, nor will it be backed by commodities

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD softens as Fed rate uncertainty supports US Dollar

GBP/USD edges lower after opening at a bullish gap, remaining within positive territory and trading around 1.3290 during the Asian hours on Tuesday. The currency pair is under pressure as the US Dollar (USD) stabilizes, driven by market caution ahead of the upcoming Federal Reserve policy decision due on Wednesday.

EUR/USD hangs near monthly low, holds above 1.1350 as USD bulls pause ahead of FOMC meeting

The EUR/USD pair is seen consolidating near the monthly trough and trading just above mid-1.1300s during the Asian session on Tuesday. Traders seem hesitant and await the outcome of a two-day FOMC policy meeting before placing aggressive directional bets.

Gold looks vulnerable as focus shifts to the Fed meeting

Gold is challenging the $4,050 level early Tuesday, extending the pullback from above $4,100, as sellers remain in control ahead of the two-day US Federal Reserve monetary policy meeting, starting later in the day. Gold is in the red for the second consecutive day so far this Tuesday, undermined by the recent demand for the US Dollar.

Senate prepares for potential CLARITY Act floor vote as Republicans work to secure support

Senate Republicans are preparing to advance the CLARITY Act as lawmakers face a narrow window to begin floor proceedings before the August recess. Senate Majority Leader John Thune is expected to move toward filing cloture on the motion to proceed to the bill, according to a Monday report by Eleanor Terrett.

Asian stocks including KOSPI slide as AI doubts hit chipmakers

Asian stocks fall sharply on Tuesday as mounting skepticism over the massive financial returns on artificial intelligence spending triggered a widespread sell-off across global semiconductor shares. The tech-driven downturn rippled from Wall Street into Asian markets, while investors shifted toward safety, driving bond prices higher and sending oil lower.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.