Stocks rose in Australia and dipped in South Korea. Japan is shut for a holiday and Hong Kong will reopen from one. U.S. futures climbed after the S&P 500 pushed higher for the first time in five sessions and the Nasdaq 100 advanced.
Fed Chair Jerome Powell said the central bank could begin scaling back asset purchases in November and complete the process by mid-2022. Officials also revealed a growing inclination to raise interest rates next year. Shorter-maturity Treasury notes fell while longer-maturity debt edged higher. The dollar rose. Cash Treasuries won’t trade in Asia because of the Japan holiday.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.56% to 17,649.00, as of 7:00 a.m.
Traders are continuing to monitor the debt crisis at China Evergrande Group. Some investor concerns appear to have eased though questions remain after the developer — which is straining under more than $300 billion of liabilities — issued a vaguely worded statement on a local bond interest payment. The focus has shifted to a payment due on a dollar note.
Elsewhere, oil pared a rally, gold held a retreat and Bitcoin traded above $43,000.
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