Japan’s Nikkei 225 was little changed, inching up less than 0.1 per cent, while South Korea’s Kospi rose 0.9 per cent.

The rupee opened marginally stronger at 95.52 against the US dollar compared to Tuesday’s close of 95.63, while gold and silver prices surged nearly 6 per cent each on the MCX amid continued demand for safe-haven assets.

Jewellery players expect the recent duty hike on gold to impact imports, with industry executives indicating a likely 10-15 per cent reduction in gold imports going ahead. The sector is also witnessing a shift in consumer behaviour, with customers increasingly expected to exchange old gold for new jewellery purchases.…