Asian stock markets are trading mostly higher on Wednesday, despite the broadly negative cues from Wall Street overnight, as traders book some profits and seemed reluctant to make significant moves amid ongoing concerns about the outlook for interest rates. They await upcoming data that is expected to provide further clues about interest rates hikes. Asian markets closed mostly higher on Tuesday.
The Australian stock market is modestly higher on Wednesday, extending the gains in the previous session, with the benchmark S&P/ASX 200 staying below the 7,300 level, despite the broadly negative cues from Wall Street overnight, as gains in mining and energy stocks were partially offset by weakness in financial and technology stocks.
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