Asia-Pacific markets traded higher on Thursday as investors watched the Fed minutes.
The Topix index rose 0.84%.
The Kospi in South Korea rose 1.04% after closing more than 2% lower on Wednesday.
The S&P/ASX 200 increased in value. Outside of Japan, the broadest index of Asia-Pacific shares was up.
According to the meeting minutes, the Federal Reserve was willing to take a more restrictive stance in policy if inflation didn't ease.
The document said that the return of inflation to 2 percent was critical to achieving maximum employment.
The July meeting could see a hike of 50 or 75 basis points.
The Federal Open Market Committee is worried about inflation expectations being unanchored.
The note said that the Fed is eager to reinforce the public that it has got this, and hiking 75bp reinforces the message.
The US markets gained on Wednesday.
The index rose 69.86 points. The S&P 500 rose to a new all-time high of 3,840.08 and the Nasdaq climbed to a new all-time high of 11,361.85.
Beijing will require Covid vaccinations in crowded places starting next week. Concerns about Covid came back into focus on Wednesday.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|---|
| Nikkei 225 Index | *NIKKEI | 26185.85 | 78.2 | 0.3 | |
| Hang Seng Index | *HSI | 21586.66 | 0 | 0 | |
| S&P/ASX 200 | *ASX 200 | 6603.9 | 9.4 | 0.14 | |
| Shanghai | *SHANGHAI | 3354.1 | -1.24 | -0.04 | |
| KOSPI Index | *KOSPI | 2319.63 | 27.62 | 1.21 | |
| CNBC 100 ASIA IDX | *CNBC 100 | 7980.11 | 28.53 | 0.36 |
The U.S. dollar index, which tracks the greenback against a basket of peers, was at a new record high.
The Australian dollar was worth more than the Japanese dollar.
The U.S. West Texas Intermediate futures fell for the second day in a row. The price of oil fell to $100.32 per barrel.
On Tuesday, the U.S. crude benchmark fell 8%. After falling below the $100 level during Wednesday's session, the international benchmark settled 2% lower at $100.69.
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