Asian markets saw a mixed day of trading on Tuesday, as investors digested the latest news from the Federal Reserve and other economic data.
In the US, stocks rose and futures gained after the minutes from the Federal Reserve’s January meeting suggested that the central bank is planning to raise interest rates at least twice this year. The dollar weakened as a result.
In Asia, stocks were mixed, with Japan’s Nikkei 225 index closing 0.2% higher, while the Shanghai Composite Index in China fell 0.4%. South Korea’s Kospi index rose 0.3%.
The uptick in Asian stocks came despite the Fed’s minutes, which suggested that the central bank is likely to raise interest rates two or three times this year. Investors were also digesting news of a stronger-than-expected reading on US consumer confidence and a weaker-than-expected reading on US housing starts.
In addition, tech stocks were boosted by news that chipmaker Nvidia posted better-than-expected earnings.
Overall, investors remain cautious as they wait to see how the Fed’s rate hikes will affect the markets.