Asian markets open in the green; FOMC minutes, OPEC meeting in focus

Asian Market 1

Major indexes in Asia opened higher on Wednesday as investors looked ahead to US Federal Reserve views on interest rate hike prospects and await an upcoming OPEC meeting widely expected to extend production cuts for nine months to March 2018.

Another potentially market-moving upcoming event is the OPEC meeting on Thursday that will be led by Saudi Arabia. Oil prices have been rising on optimism over hopes that will be OPEC-led output cuts will be extended with non-OPEC key producer Russia also in the pact.

The Nikkei 225 jumped 0.79 percent in early Wednesday trade while the Kospi rose a more modest 0.31 percent. Australia’s benchmark S&P/ASX 200 index edged higher by 0.1 percent.

Over in Japan, Toshiba’s US nuclear arm Westinghouse Electric announced it had negotiated a deal that would let the company borrow USD 800 million. Toshiba shares were up 0.47 percent in early trade.

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