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The sails of the Sydney Opera House are illuminated by projections to celebrate the occasion since the building’s opening almost fifty years ago on October 19, 2022 in Sydney, Australia.
James D. Morgan | Getty Images Entertainment | Getty Images
Asia-Pacific markets are set for a mixed open on Wednesday after speakers from the U.S. Federal Reserve gave differing signals on the future of rate hikes and Wall Street’s earnings season continued.
Atlanta Federal Reserve President Raphael Bostic said Tuesday he envisioned the central bank approving one more interest rate increase of 25 basis points, before pausing to see how policy tightening is impacting the economy. This would take the U.S. Federal Funds rate to 5-5.25%.
In contrast, a Reuters exclusive revealed that St. Louis Federal Reserve President James Bullard favoured raising interest rates by an additional 50 basis points beyond the expected 25 points hike in May, bringing interest rates to between 5.50% and 5.75%.
Australia’s S&P/ASX 200 futures point at a higher open for the market, standing at 7,376 compared to the index’s last close at 7,360.
Meanwhile, Japanese markets look like they could go either way based off futures data. The Nikkei futures contract in Chicago was at 28,670, while its counterpart in Osaka was at 28,650 against the Nikkei 225’s last close at 28,658.83.
Futures for Hong Kong’s Hang Seng index also point to a lower open for the Hang Seng, standing at 20,587 compared to the index’s last close of 20,650.
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