Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from global markets overnight, as some traders continued to cash in on recent strength in the markets by booking profits. They are also cautious ahead of the US Fed Chair Jerome Powell's congressional testimony later in the day, which could provide clues about the outlook for interest rate moves. Asian markets closed mixed on Tuesday.
The Australian stock market is modestly lower on Wednesday, snapping the seven-session winning streak, with the benchmark S&P/ASX 200 staying above the 7,300 level, following the broadly negative cues from global markets overnight, with losses in materials and energy stocks amid tumbling commodity prices, partially offset by strength in technology stocks.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.