Following the mostly positive cues from global markets overnight, Asian stock markets are trading mostly higher on Thursday, as traders reacted to the latest remarks from US Fed officials that helped ease recent concerns about the outlook for interest rates. Fed Chair Jerome Powell reiterated during remarks at Stanford University that the central bank is not in a hurry to begin lowering interest rates, but reaffirmed his view that they will likely cut interest rates this year. Asian Markets closed mostly lower on Wednesday.
The Australian market is notably higher on Thursday, recouping the losses in the previous two sessions, following the mostly positive cues from global markets overnight. The benchmark S&P/ASX 200 is moving above the 7,800 level, with gains in gold miners, technology and financial stocks.
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