Indian Stocks Fall as RBI Hikes Rates to 5.50% 
India-US Trade Deal Talks Hit Plateau, Sitharaman Says 
Thailand Plans Dual-Class Shares to Revive IPO Market 
Nasdaq Hits Record High as Tech Stocks Lift Wall Street 
Australia Consumer Confidence Plunges as RBA Rate Hike Hits Households 
Oil Prices Fall as Middle East Exports Recover, G7 Eases Supply Fears 
China Shuts 670 Banks as Bitcoin Eyes Financial Risks 
RBI Raises Repo Rate to 5.50% in Hawkish Shift on Inflation Risks 
European Stocks Diverge as French Fiscal Crisis Hits CAC 40 
Gold Prices Rise as Dollar Weakens, Treasury Yields Ease 
Samsung, SK Hynix Shares Fall Ahead of Q3 Earnings 
European Stocks Fall as Oil Rises Ahead of Fed Minutes 
Gold Prices Slip as Strong Dollar and High Treasury Yields Weigh 
World Bank Raises South Asia Growth Forecast to 6.9% 
Wall Street Rises as Oil Prices Ease, Nasdaq Hits Record 
Oil Prices Rise as Hormuz Attacks Fuel Supply Fears 
Asian Stocks Rise as Nasdaq Record Offsets Bond Yield Pressure 
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Asian currencies traded mixed on Wednesday as the U.S. dollar remained near recent highs, while the Japanese yen weakened toward 158 per dollar amid uncertainty over the Bank of Japan’s policy outlook and renewed concerns about government spending.
The U.S. Dollar Index gained 0.2% to around 102.03, while USD/JPY rose 0.2% to 158.38. EUR/USD slipped 0.2% to 1.124 and GBP/USD declined 0.2% to 1.325. The Australian dollar traded near $0.6973, while the New Zealand dollar stood at $0.5610.
Higher oil prices and U.S. Treasury yields added pressure across Asian currencies. Oil climbed as much as 1% to around $101.50 a barrel after Iran intensified tanker attacks in the Strait of Hormuz. The benchmark 10-year Treasury yield increased three basis points to roughly 5.31%.
Investors are now awaiting minutes from the Federal Reserve’s September 15-16 meeting, when policymakers raised interest rates to curb inflation. Fed officials Christopher Waller, Neel Kashkari and Alberto Musalem are also scheduled to speak.
Expectations for an October Fed rate hike have declined following softer U.S. inflation and employment data. CME FedWatch showed the probability of at least a 25-basis-point October increase falling to 20.5% from about 51% a week earlier. However, markets still see an 84.5% chance of a December hike.
In Japan, new BOJ board member Ayano Sato said she supports raising interest rates in several stages. Reports also indicated the central bank could signal that underlying inflation has broadly reached its 2% target, strengthening the case for further tightening.
The yen also faced pressure as Japan considers a second supplementary budget, reviving concerns over fiscal spending.
Meanwhile, USD/INR rose 0.2% to 96.61 ahead of the Reserve Bank of India’s policy decision. The RBI is widely expected to raise its benchmark rate by 25 basis points to 5.50%, its first increase since February 2023.
Elsewhere, USD/CNH edged up to 6.7043, USD/CNY held at 6.7046, USD/KRW slipped to 1,337.85 and USD/SGD rose to 1.2788. The euro remained under pressure amid renewed fiscal concerns in France and political uncertainty in Spain.
