Asian stock markets are a sea of green on Wednesday, following the broadly positive cues from global markets overnight, as data showing a slowdown in U.S. manufacturing activity in the month of April raised hopes the US Fed will start thinking of cutting interest rates soon. Traders also continue to pick up stocks at relatively reduced levels after the recent sell-off.

Indian shares look set to open a tad higher on Wednesday as weak U.S. business activity data revived investor hopes for U.S. rate cuts this year.

The Japanese stock market is sharply higher on Wednesday, adding to the gains in the previous two sessions, following the broadly positive cues from global markets overnight. The Nikkei 225 is surging above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks.

The Thai stock market has moved higher in back-to-back sessions, advancing more than 25 points or 2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,355-point plateau and it may add to its winnings on Wednesday.

Consumer prices in Australia were up a seasonally adjusted 1.0 percent on quarter in the first quarter of 2024, the Australian Bureau of Statistics said on Wednesday.

The AUD/USD pair is experiencing upward momentum for the second consecutive day, reaching a one-week high near 0.6453 on Tuesday. This positive movement comes after a period of rapid decline and is supported by encouraging economic data from Australia.

Gold-dollar down 2.4%, MACD negative. Euro-dollar flat, ROC negative. Pound-dollar dips 0.2%, oversold. Bitcoin-dollar jumps 2.3%, stochastic positive. Wall Street rebounds, eyes on earnings. Bitcoin demand slows post-halving. Tesla expects profit margin decline. Major events: US Redbook Index, New Home Sales, 2-Year Note Auction; Japan's PMI; UK's Net Borrowing.

Gold dives towards 2,300; MACD and RSI decline from overbought regions; Price post bearish correction

Dollar loses ground against risk-linked currencies - But yen continues to slide to new 34-year low - Stocks rebound, gold falls on easing geopolitical concerns

The market spotlight shifts to the U.S. equity market, particularly with the impending release of earnings reports from tech giants .