The stock market experienced a volatile day on Tuesday, with the Dow, S&P, and other markets across the globe trading up and down. In Asia, stocks were mixed following a break in the losing streak on Wall Street.
The Federal Reserve released minutes from its most recent meeting, which showed that the central bank is leaning towards more rate hikes in the near future. This news caused some investors to pull back, leading to a selloff on Wall Street.
However, Asian markets were not as affected by the Fed’s news. In Japan, the Nikkei 225 rose 0.2%, while the Topix index gained 0.3%. South Korea’s Kospi index was up 0.4%, and the Shanghai Composite in China rose 0.5%.
The Bank of Korea also held its benchmark interest rate steady at 1.75%, surprising some investors who had expected a cut.
Overall, Asian stocks were mixed after Wall Street’s break from its losing streak, as investors digested the news from the Federal Reserve and the Bank of Korea.