Tech prospects tentative rally as Powell soothes markets

  • ‘We will hold out for evidence of precise inflation’ – Powell
  • Nasdaq logs file close, Taiwan prospects tiny gains in Asia
  • Bonds steady right after wild swings dollar retains bid

SINGAPORE, June 23 (Reuters) – Shares identified a footing and swinging bond markets calmed down on Wednesday, with testimony from U.S. Federal Reserve chair Jerome Powell delivering investors with reassurance that the central financial institution has an eye on inflation but is not hastening to hike costs.

The charges-delicate Nasdaq index (.IXIC) shut at a document significant on Tuesday, when tech shares were bid in Asia – notably in Taiwan wherever chipmakers aided the benchmark index increase 1%. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose .4%. Japan’s Nikkei (.N225) rose .3%.

The Fed had knocked stocks and boosted the dollar past week with a shock projection for amount hikes as quickly as 2023.

On the other hand

Read more