Sensex Today Live Updates : Share market climbs; Sensex up 210pt, Nifty at 22,700; Oil & Gas, Metal, Realty, lead gains

Sensex Today Live Updates : Asian stocks traded higher on Wednesday, unfazed by a rating downgrade to China by Fitch which triggered a mild domestic sell-off but which analysts said did not take into account the economy’s future performance.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7%, after U.S. stocks ended the previous session with mild gains. The index is up 0.2% so far this month.

The yield on benchmark 10-year Treasury notes was at 4.3556% compared with its U.S. close of 4.366% on Tuesday. The two-year yield, which rises with traders’ expectations of higher Fed fund rates, touched 4.7384% compared with a U.S. close of 4.747%.

Fitch affirmed China’s sovereign rating at ‘A+’ even though the outlook was downgraded to negative and it forecast economic growth this year would slow.

China’s blue chip CSI300 index was down 0.43% after earlier opening flat while the Shanghai Composite was down 0.34%. Hong Kong’s Hang Seng Index escaped the selling and was trading up 1.88%.

Australian shares were up 0.3%, while Japan’s Nikkei stock index was down 0.4%. The Nikkei is looking to test 40,000 points again, with the yen’s slide seen helping fuel that push.

However, further weakness in the Japanese currency could prompt authorities to intervene, especially if the yen breaks 152 per dollar.

U.S. consumer price data due on Wednesday will be closely watched by investors as they seek direction on the next move in interest rates. The data is expected to show a rise in headline inflation to 3.4% year-on-year, from 3.2% in February.

The prospect of a U.S. interest rate cut as early as June is now being considered by financial markets, with the inflation reading seen as key to the central bank’s next move.

In the U.S., the Dow Jones index finished down 0.02%, the S&P 500 gained 0.1%, while the Nasdaq Composite rose 0.3%. U.S. crude ticked up slightly to $85.34 a barrel. Brent crude rose to $89.52 per barrel. Gold was slightly higher. Spot gold traded at $2,352.93 per ounce.

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