Asian shares were mostly higher Wednesday, boosted by a rally on Wall Street that came ahead of some potentially market-moving reports due later in the week.
The weak yen also piqued buying sentiment in Japan, as that boosts the earnings of the nation’s exporters when converting overseas profits into yen.The weak yen also piqued buying sentiment in Japan, as that boosts the earnings of the nation’s exporters when converting overseas profits into yen.
The move is aimed at “greatly strengthening its investment in personnel, remunerating each and every employee appropriately for their ambition and talents, as well as increasing the company’s growth potential and competitiveness in line with global standards,” the company said in a statement. Investors were hoping for some clues about where the Fed is heading from its chair, Jerome Powell, who spoke at a forum in Stockholm on Tuesday. But he gave little news about rates.
Past rate increases and high inflation have already hurt economic activity around the world, and the Fed has pledged to keep rates high for a while to ensure the job is done on inflation. It doesn’t envision any rate cuts until 2024.
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