In Tokyo, Japan, a cluster of industrial factories sits among new apartment buildings along a canal.
Photo by Michael Russell | Moment | Getty Images
Asia-Pacific markets opened higher on Wednesday after Federal Reserve Chairman Jerome Powell pointed to progress on inflation but reiterated patience for rate cuts at a central bank forum.
Asian traders awaited June business activity data from India, Japan and China due to be released later in the day.
Japan’s Nikkei 225 Index It rose 0.45% to breach the 40,000-point mark, while the KOSPI gained 0.11%.
Korean Cospi It opened up 0.50% in the morning and the Kosdaq rose 0.8%.
Australia’s S&P/ASX 200 opened up 0.17% in early trading.
Hongkong Hang Seng Index Index futures were at 17,764 points, lower than the Hang Seng Index’s last closing point of 17,769.14 points.
Overnight, the U.S. Dow Jones Industrial Average rose 0.41%. S&P 500 Index up 0.62%, Nasdaq Index up 0.84%. The Nasdaq and S&P 500 both closed at record highs.
Tesla shares helped boost the S&P 500 after Elon Musk’s electric car company beat second-quarter deliveries expectations.
—CNBC’s Pia Singh and Sarah Min contributed to this report.
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