Asia markets jump on Wall Street rally – CNN

Business News

Asia markets jump on Wall Street rally  CNN

Asia stocks jumped Wednesday, following Wall Street’s rally as the US central bank signaled a rate cut and worries about the escalating trade war took a backseat. Tokyo’s Nikkei led the charge, rising 1.9% in morning trade. Hong Kong’s Hang Seng and the Shanghai Composite gained around 0.5%. Driving the market upswing were comments from US Federal Reserve Chairman Jerome Powell, who said that the central bank was closely monitoring developments on the trade front. “As always, we will act as appropriate to sustain the expansion,” he said Tuesday at a monetary policy conference in Chicago. Th…

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Source: Business News