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Chinese shares end marginally higher

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Last Updated : Jan 08 2025 | 4:16 PM IST
Asian stocks ended mixed on Wednesday as upbeat U.S. economic data released overnight led investors to scale back Fed rate cut bets.

Fed Bank of Atlanta President Raphael Bostic said on Tuesday that officials should be cautious with policy decisions, given uneven progress on lowering inflation.

Gold ticked higher in Asian trade as the dollar consolidated ahead of the release of minutes of the Fed's December policy meeting and ADP employment data.

Oil prices inched up for a second straight session as supplies from Russia and OPEC members tightened and the American Petroleum Institute reported a large crude draw.

China's Shanghai Composite index finished marginally higher at 3,230.17 after a choppy session as regulators announced plans to broaden the scope of home appliance trade-ins that qualify for subsidies.

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First Published: Jan 08 2025 | 4:08 PM IST

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