Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from Wall Street overnight, as some traders booked some profits following recent strength in the markets. The lack of data amid the ongoing U.S. government shutdown has led to some uncertainty about the outlook for interest rates, although the US Fed is still widely expected to cut rates by another quarter point later this month. Asian markets closed mixed on Tuesday.
Remarks by several Fed officials, including Fed Chair Jerome Powell, this week along with the release of the minutes of the central bank's latest meeting may shed additional light on the outlook for rates. Powell's speech on Thursday is anticipated by markets to gain insights on the Fed's understanding of the economy.
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