Asia stocks mixed after Wall St gain, Powell warns on rates
ABC News
Asian stock markets are mixed after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation
BEIJING -- Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve chairman said it will raise interest rates further if needed to cool inflation.
Shanghai and Hong Kong declined. Tokyo and Seoul advanced. Oil prices rose to stay above $110 per barrel.
On Wall Street, the benchmark S&P 500 index rose by an unusually wide daily margin of 2% after positive U.S. retail sales data helped to offset concern about inflation.
The Fed will “have to consider moving more aggressively” if inflation that is running at a four-decade high fails to ease after earlier rate hikes, chair Jerome Powell said at a Wall Street Journal conference.
