Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from Wall Street overnight, as some traders booked some profits following recent strength in the markets. The lack of data amid the ongoing U.S. government shutdown has led to some uncertainty about the outlook for interest rates, although the US Fed is still widely expected to cut rates by another quarter point later this month. Asian markets closed mixed on Tuesday.
Remarks by several Fed officials, including Fed Chair Jerome Powell, this week along with the release of the minutes of the central bank's latest meeting may shed additional light on the outlook for rates. Powell's speech on Thursday is anticipated by markets to gain insights on the Fed's understanding of the economy.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.