- Asian stocks were mixed on Wednesday, following a Wall Street rally fueled by increased consumer confidence and home sales in the United States. The Australian dollar fell on weak inflation data, while the yen strengthened following verbal intervention in Tokyo.
- The Australian dollar fell as much as 1% and the country's stock market rose 1.4% after inflation fell more than expected in May, raising the prospect of the central bank pausing its rate-hike campaign.
- Stocks rose in Japan but fell in Hong Kong and mainland China. US stock futures fell after a late-breaking Wall Street Journal report that the Biden administration was considering new restrictions on artificial intelligence chip exports to China, causing some US tech stocks to fall in postmarket trading.
- Data indicating economic resilience also highlighted the likelihood that the Federal Reserve will continue to tighten monetary policy. Treasuries were down on Wednesday after yields rose on Tuesday, while the Nasdaq 100 gained nearly 2%.
