- Asian markets extended their surge after the biggest two-day run in US equities in more than two years, as investors begin to anticipate a slowing in central bank tightening, which might send risk assets higher.
- Hong Kong markets gained following a one-day hiatus, as did Australian, Japanese, and South Korean shares, as rising risk sentiment drives global equities out of the oversold territory. Stock futures in the US and Europe fell slightly after the S&P 500 gained 3.1% on Tuesday and the Euro Stoxx 50 had its best day since March. Elon Musk relaunched his $44 bln bid for Twitter, sending the stock up 22%.
- A drop in job vacancies in the US presented evidence that the labour market may be cooling, raising hopes that the Federal Reserve may soon slow its rate-hiking pace. Australia's policymakers bolstered that view on Tuesday by delivering a smaller-than-anticipated rate hike, albeit the move was not replicated in New Zealand, where the central bank raised its benchmark lending rate to the highest in seven years, as expected.
