SGX Nifty Up 40 Pts in Pre-Open, Global Cues Ahead of US Fed Decision

By Malvika Gurung

Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.21% or 40 points higher at 8:54 am on Wednesday, indicating a marginally higher opening on Dalal Street ahead of the US . 

Further, the declined 0.25% and traded flat.

Major US indices ended high on Tuesday following the for May coming in lower than expected, boosting sentiments that the Fed will pause the interest rate hike on Wednesday.

The US FOMC is set to release the rate hike data later today and investors will remain fixated on the from Federal Reserve policymakers.

and closed at a 14-month high in the overnight session, while gained 0.43%.

Asian shares were mostly up on Wednesday with Japan’s clearing fresh 33-year highs, following an overnight rally on Wall Street as the inflation report boosted bets of a pause in the Fed’s rate hike at June’s policy meet. Investors will focus on Fed Chair Jerome Powell’s post-policy press conference today.

At 8:58 am, Japan’s Nikkei surged 0.87%, South Korea’s declined 0.26%, Hong Kong’s traded flat, China’s rose 0.2% and Australia’s advanced 0.18%.

Oil prices traded flat in the morning trade following a strong rally in the prior session. rose to $74.34/barrel and traded at $69.39 a barrel. declined 1.07%.