Kospi in Seoul rose 1.4% to 2,650.11 while Sydney’s S & P-ASX 200 grew 2% to 6,977.20.
New Zealand fell 1% as Southeast Asian markets rose.
On Wall Street, the benchmark S&P 500 index fell 0.5% to 4,326.51 after official data showed the U.S. economy grew 5.7% last year, its strongest rate since 1984 to jump 7.2%. .
The index is within 10 points of entering a correction, meaning a 10% drop from its January 3 high of all time.
The Dow Jones Industrial Average dropped less than 0.1% to 34,160.78. The Nasdaq composite was down 1.4% to 13,352.78.
Stocks are on a roller coaster ride this week as investors try to figure out what the Fed will do after Powell said inflationary pressures have not eased.
“The Fed has erred in inflation and the scramble to deliver interest increases this year is sending out best-performing assets during the pandemic collapse,” Oanda’s Edward Moya said in a report.
Consumer spending -dependent companies and banks have sunk. Royal Caribbean fell 6.3% and JPMorgan Chase fell 1.8%.
Technology stocks are gone. Expensive tech companies and other growth stocks are less attractive when rates rise. Nvidia fell 3.6%.
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