MSCI's equivalent regional index that removes Japan rose 0.64%.
U.S. gold futures were steady at $1,871.40
All the sectoral indices settled in the negative territory today with technology and public sector banks being the worst hit. The IT and PSB indices dropped nearly 3% and 2%, respectively
The high spirits on the budget were short-lived as the global concerns have began weighing on equities.
Meanwhile, in cryptocurrency markets, Bitcoin held around a two week high
In its latest policy update on Wednesday, the Fed indicated it is likely to raise U.S. interest rates in March
In its latest policy update, the Fed signaled it is likely to raise U.S. interest rates in March
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.26% early on Wednesday, but the index has skidded 2.4% this year, and is testing mid-December's one-year low
All three major U.S. stock indices experienced a repeat of Monday's bumpy trading
All three major U.S. stock indices closed the day in positive territory, after the Dow Jones Industrial Average had posted an over 1,000-point decline earlier in the day
The euro lost 0.19% to 1.1319 and the dollar also gained 0.1% on the safe-haven yen with one dollar worth 113.8 per yen, though the Japanese currency was still near its recent top of 113.47
Adding to the caution was concerns about a possible Russian attack on Ukraine with the U.S. State Department pulling out family members of its embassy staff in Kyiv.
Attempts to predict when and how quickly central banks will raise interest rates and conclude stimulus programmes launched when COVID-19 hit are a major factor driving currency markets at present.
Biden will nominate three people for the Federal Reserve's Board of Governors.
Raskin, a former Fed governor and Treasury official under former President Barack Obama, will replace Randal Quarles who was appointed the Fed's vice chair for supervision by Trump
Equity markets had a bruising start to the year as bets that the Fed could raise interest rates as soon as March spurred investors to pare risky assets
The Fed in December flagged plans to tighten policy faster than expected in response, with a rate hike perhaps as soon as March
Spot gold XAU= fell 0.3% to $1,804.60 an ounce by 1038 GMT, having touched its lowest since Dec. 29 at $1,792.30. U.S. gold futures GCv1 dropped 1.5% to $1,797.70.
Treasury yields remained elevated, while gold gained along with crude oil
The Federal Reserve said on Wednesday it would end its pandemic-era bond purchases in March and pave the way for three quarter-percentage-point interest rate hikes by the end of 2022.