Asian stock markets are trading in the green on Monday, following the broadly positive cues from Wall Street on Friday, reacting to U.S. Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole symposium on Friday. However, the upside is limited as traders remain anxious amid the coronavirus situation in the region and in several countries, which continues to stifle economic activity. Asian markets closed mixed on Friday.
Powell said the central bank is likely to begin tapering some of its easy-money policies before the end of the year, but added that the bank is unlikely to hike interest rates anytime soon. He added that the economy has reached a point where it no longer needs as much policy support, but felt there's "much ground to cover" before rate hikes.
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