- Following a rally on Wall Street, Asian equities advanced, while Hong Kong-listed technology stocks fluctuated amid speculation that China's regulatory crackdown on the sector may be nearing an end.
- After the S&P 500 closed at its highest level since mid-September, an index of Asian shares rose, led by gains in Australia and South Korea. Federal Reserve officials' comments indicating a willingness to slow rate hikes, as well as positive earnings from Best Buy and Abercrombie & Fitch, boosted sentiment.
- Hong Kong tech shares fluctuated as investors considered the implications of a report that Ant Group faces a more than $1 bln fine from China's central bank. The news sparked speculation that it could signal the end of the government's crackdown on technology and allow Alibaba Group to relaunch efforts to list ant shares.
- The dollar was little changed against the majority of its major counterparts. The New Zealand dollar and government bond yields rose after the central bank raised interest rates by 75 bps.
- Bitcoin has held recent gains after rising as much as 4.2% on Tuesday, bringing it back from its lowest price since November 2020.
