Asian stock markets gain ahead of Fed update
Asian stock markets are higher ahead of the release of minutes from a Federal Reserve meeting that investors hope might show the U.S. central bank is moderating its plans for more interest rate hikes to cool inflation BEIJING -- Asian stock markets rose Wednesday ahead of the release of minutes from a Federal Reserve meeting that investors hope might show the U.S. central bank is moderating plans for more interest rate hikes to cool inflation. Shanghai, Hong Kong, Seoul and Sydney advanced. Tokyo retreated. Oil prices were little-changed. Wall Street fell Tuesday in the year's first trading day after recording its biggest annual decline in 14 years in 2022. Traders worry the Fed and other central banks might be willing to push the world into recession to extinguish inflation that is at multi-decade highs. They hope minutes from the Fed's December meeting might show policymakers are reducing or delaying planned rate hikes due to signs economic activity is slowing. “While the Fe...