Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, as traders remain cautious in making large moves as they brace for the US Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium later today. Traders also digested a slew of earnings updates and economic data. Asian markets ended mostly higher on Thursday.
Powell is widely expected to reiterate the central bank’s hawkish stance, given the expectations that inflation in the U.S. will be persistent and it will take time to contain it. That has already largely been priced into the markets.
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