Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, with traders remaining cautiously optimistic as they believe the heavy selling in recent sessions has been overdone. They also await the US Fed's monetary policy decision on Wednesday. Asian markets closed mostly lower on Monday.
The Fed is widely expected to raise interest rates by another 75 basis points, although some see an outside chance for a 100 basis point rate hike. CME Group's FedWatch Tool is currently indicating an 82.0 percent chance of a 75 basis points rate hike and a 18.0 percent chance of a 100 basis point rate hike.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.