China and Hong Kong stocks edged higher on Wednesday after manufactory activity data showed an improvement, with investors remaining hopeful around the U.S. Federal Reserve's interest-rate decision.
China's manufacturing activity has started to increase as the coronavirus epidemic wanes, after the country abandoned its suppression strategy that severely disrupted the economy with a series of city lockdowns. The manufacturing purchasing managers' index rose to 50.1 in January from 47.0 in December.
A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed. All three major U.S. stock indexes ended bright green and notched welcome gains for the month.
* U.S. Federal Reserve policy decision awaited. * ECB, BoE policy announcements due Thursday. * MSCI index set for biggest January pct gain since 2019. * U.S. labor costs growth slows in Q4. By Chuck Mikolajczak.
* Nasdaq posts biggest January gain since 2001. * U.S. labor cost growth slows in fourth quarter. * Exxon, UPS rise after results, Caterpillar (CAT) slumps. * Fed decision on interest rates on Wednesday. * Indexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67% By Lewis Krauskopf, Johann M Cherian and Shreyashi Sanyal.
* TSX ends up 195.27 points, or 0.95%, at 20,767.38. * For the month, index rises 7.1% * Technology advances 1.9% * Lithium Americas (LAC) jumps 13.5% By Fergal Smith.
* U.S. labor cost growth slows in fourth quarter. * McDonald's, Caterpillar (CAT) slip after earnings. * Exxon, GM, UPS rise after their results. * Fed decision on interest rates on Wednesday. By Lewis Krauskopf, Johann M Cherian and Shreyashi Sanyal.
* U.S. Federal Reserve policy decision awaited. * ECB, BoE policy announcements due Thursday. * MSCI index on pace for biggest January pct gain since 2019. * U.S. labor costs growth slows in Q4. By Chuck Mikolajczak.
* U.S. labor costs growth slows in fourth quarter. * McDonald's, Caterpillar (CAT) slip after earnings. * Exxon, GM, UPS rise after their results. * Fed decision on interest rates on Wednesday. * Indexes up: Dow 0.48%, S&P 500 0.73%, Nasdaq 0.95% By Lewis Krauskopf, Johann M Cherian and Shreyashi Sanyal.
* U.S. Federal Reserve policy meeting begins on Tuesday. * ECB, BoE policy announcements due Thursday. * MSCI index on pace for biggest January pct gain since 2019. * U.S. labor costs growth slows in Q4. By Chuck Mikolajczak.
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