Asian Stocks Swing as Traders Bide Time Ahead of US Rate Decision
Investors anticipate a 25-basis-point US Federal Reserve rate cut amid mixed Asia-Pacific market reactions and economic data showing export declines and labor market weakness.
- The Dow Jones Industrial Average fell by 125.55 points, closing at 45,757.90 as investors awaited tonight’s Federal Reserve interest rate announcement.
- Markets entered a holding pattern due to anticipation of a 25-basis-point US interest rate cut amid mixed signals from economic data and potential Fed member dissent.
- Asian stock markets showed mixed performance with gains in Tokyo and Hong Kong contrasted by losses in Seoul and Shanghai, while Chinese tech stocks rallied following upgrades and a surge in Tencent's bond sale.
- Josh Gilbert highlighted that a key concern is the Federal Reserve taking a less accommodative tone than investors anticipate, while Chair Powell is expected to emphasize potential challenges in labor markets and the central bank’s readiness to implement additional rate cuts if necessary.
- The Fed's likely rate cut and Powell’s tone will influence traders' expectations for additional easing and shape global market outlook amid persistent inflation and economic caution.
45 Articles
45 Articles
Oil retreats but geopolitical jitters cap declines
Oil prices eased slightly today, after rising more than 1% in the previous session, though ongoing geopolitical jitters provided a floor for the market while traders also awaited an expected interest rate cut from the US Federal Reserve.
Asian shares mixed, Japanese stocks near record highs
Hang Seng index climbed 1.5%, the Shanghai Shenzhen CSI 300 gained 0.6%, the Shanghai Composite index added 0.4%, KOSPI slid 0.7%, S&P/ASX 200 dropped 0.7%, Straits Times Index shed 0.2%, while the broader TOPIX index dropped 0.6% Asian shares were mixed on Wednesday ahead of the U.S. Federal Reserve’s policy decision later in the day, while Japanese stocks hovered near record highs after trade data showed the country’s deficit declined less tha…
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