On Wednesday, stock markets regained their footing and swaying bond markets settled down, thanks to testimony from US Federal Reserve Chair Jerome Powell, who reassured investors that the central bank is keeping an eye on inflation but is not rushing to raise rates. On Tuesday, the rate-sensitive Nasdaq index closed at a new high, while tech stocks were in demand in Asia, particularly in Taiwan, where chipmakers helped the benchmark index jump 1%. Outside of Japan, MSCI’s broadest index of Asia-Pacific stocks rose 0.4 percent.
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