Asian markets up on earnings as Fed mulls taper

HONG KONG - Most Asian markets rose again on Wednesday, joining a global rally fuelled by strong earnings, while investors kept tabs on comments from the Federal Reserve as it prepares to bring an end to its vast financial support program.

Johnson & Johnson, United Airlines and Netflix were the latest positives from the reporting season, adding to top Wall Street banks, including JPMorgan Chase, Bank of America and Morgan Stanley last week. Other tech firms caught in Beijing's crosshairs as part of a regulatory drive also rose, with Tencent, JD.com, Meituan and NetEase all up more than two percent.Rising prices and the end of central bank largesse continued to cast a shadow.

With the United States well on the recovery track, officials have signaled they will start to taper their colossal bond-buying scheme before the end of the year. Another board member, Michelle Bowman, was also in favor of a November start and said any benefits of continuing the asset purchases were likely offset by the potential costs.

Investors are keeping track of developments in Washington as Democrats look to pare back President Biden's $3.5 trillion tax and spend package in hopes of getting it through Congress.

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