Asian equities traded higher today, following the gains on Wall Street, backed by upbeat corporate earnings. However, China continues to lag, given the trade tensions with the US.
Nikkei made significant gains, with investors waiting for any developments on trade as Japanese Prime Minister Shinzo Abe meets President Donald Trump at his Mar-a-Lago resort. A weaker yen also helped the market make gains.
Chinese markets also struggled even as Beijing boosted liquidity in the banking system. China's central bank lowered the reserve requirement ratio for most commercial banks on Tuesday, thus improving liquidity.
The Australian market is modestly higher, following the overnight gains on Wall Street and as investors digested first-quarter production results from mining giant Rio Tinto as well as oil major Woodside Petroleum. Gains by mining and oil stocks offset weakness in shares of banks.
In the currency market, the U.S. dollar is trading in the lower 107 yen-range on Wednesday. Gold was slightly lower, and crude firmed up its position.
IC Markets is revolutionizing on-line forex trading; on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.