Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders now feel that interest rate concerns have been priced into the markets and are indulging in picking up stocks at reduced levels following recent weakness. Meanwhile, the renewed COVID-19 induced curbs in China weighed on market sentiment. Asian Markets closed mostly lower on Wednesday.
The release of the US Fed's Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, said economic activity in the U.S. has been essentially unchanged since early July.
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