Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, as optimism surrounding China's reopening helped offset concerns about interest rates. US Fed Chair Jerome Powell refrained from commenting on monetary policy at a symposium. Asian Markets closed mixed on Tuesday.
However, in his speech in Stockholm, Powell stressed the case for monetary policy independence and noted that price stability is the bedrock of a healthy economy. He emphasized the need for the central bank to be free of political influence while it tackles high inflation.
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