In Asian Equity Markets indices were higher on Wednesday morning following a strong bounce on Wall Street overnight. In the mainland Chinese markets, the Shanghai composite rose by 0.77 percent in early trade. In Japan, the Nikkei 225 advanced by 1.33 percent. In South Korea, the Kospi also bounced higher by 1.2 percent in the morning, with shares of industry heavyweight Samsung Electronics seeing gains of 1.49 percent. The ASX 200 traded up by 1.03 percent in the morning, with most sectors trending higher.

In Currency Markets the US dollar was little changed against most of its major peers on Wednesday but made gains against the yen as upbeat Wall Street earnings turned global sentiment away from safe haven assets. The greenback gained 0.13 percent against the Japanese yen on Wednesday, which traded at 112.40 to the dollar. The yen had strengthened over seven out of eight sessions prior to Tuesday and hit a one-month high of 111.61 on Monday. The British pound quoted at 1.3187 on Wednesday, after tacking a gain of 0.25 percent versus the dollar on Tuesday.

In Commodities Markets U.S. oil prices extended gains on Wednesday after industry data showed a surprise decline in U.S. crude inventories. U.S. West Texas Intermediate crude was up 35 cents, or 0.5 percent, at $72.27 a barrel on Wednesday, having settled up 14 cents. Brent crude was up 36 cents, or 0.4 percent, at $81.77 a barrel, after settling up 63 cents the session before. U.S. crude inventories fell by 2.1 million barrels last week, compared with analyst expectations for a build of 2.2 million barrels, according to the API.

In US Equity Markets stocks jumped more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data. The S&P 500 gained 2.15 percent, to 2,809.92 and the Nasdaq Composite added 2.89 percent, to 7,645.49. The technology sector gained 3.0 percent while healthcare rose 2.9 percent. Goldman Sachs and Morgan Stanley reported better-than-expected quarterly profits, helped by strength in stock trading and equity underwriting, wrapping up a strong quarter for the big U.S. banks.

In Bond Markets  U.S. Treasury yields were little changed on Tuesday as the bond market settled into a tight trading range in the aftermath of wild swings stemming from worries about inflation and a rout across global equities. The 10-year Treasury yield was down marginally at 3.160 percent.The 30-year yield slipped half a basis point at 3.336 percent, which was below the four-year peak at 3.446 percent set last week. Short-to-medium Treasury yields were slightly higher, with the two-year yield at 2.870 percent.