Asian stocks solid and kiwi jumps on RBNZ rate hike

Published by
Reuters UK

By Sam Byford (Reuters) – Asian shares tracked solid Wall Street performance on Wednesday as strong overnight earnings for U.S. retail giants pointed to further scope for the Federal Reserve to tackle inflation with rate hikes. Japan’s Nikkei rose 0.81% to 29,101.33, breaking through the 29,000 barrier for the first time since Jan. 6. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.02%. Stocks in New Zealand fell 0.285% and the kiwi dollar gained 0.35% after the country’s central bank announced a fourth consecutive 50 bps rate hike to 3.00%. Despite the hike being in line wit…

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