From Nasdaq, Inc.:



Asian stock markets are mostly higher on Wednesday, following positive cues from Wall Street overnight on December 27, amid optimism about the outlook for interest rates following tamer-than-expected US consumer price inflation data. Some traders also kept on the sidelines ahead of a relatively quiet last week of the year. A 72.7 percent chance the Federal Reserve will cut rates by a quarter point in March, as per CME Group’s FedWatch Tool report. Australian shares are trading significantly higher on Wednesday, recouping the losses in the previous two sessions, with the benchmark S&P/ASX 200 moving well above the 7,500 level to ten-month highs, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by technology stocks.

The Japanese stock market is significantly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 index moved well above the 33,600 levels and has gains across most sectors, led by index heavyweights and technology stocks. On Wall Street, stocks moved mostly higher during trading on Tuesday, with the major averages all moving to the upside after ending last Friday’s session narrowly mixed.

Crude oil prices surged higher amid escalating tensions in the Middle East and concerns over trade disruptions following attacks on ships, with West Texas Intermediate Crude oil futures for February jumping $2.01 or 2.7 percent at $75.57 a barrel on December 27.



Read more: Asian Markets Track Wall Street Higher