Asian Stocks Mixed After Fed Cuts Rates by 25 Points
Asian markets were choppy on Thursday after the U.S. Federal Reserve cut interest rates by 25 basis points but left investors uncertain about the pace of future easing.
The move, the Fed’s first reduction since December, came in response to weakening labor market data despite inflation remaining above the 2% target. Chair Jerome Powell said “labour demand has softened” and job creation is running below levels needed to stabilize unemployment.
The Fed’s forecast showed a split outlook: a slim majority of policymakers anticipate two more cuts, while others see no further action this year. Powell stressed decisions would be made “meeting by meeting.”
U.S. markets ended mixed, with the Dow edging higher while the S&P 500 and Nasdaq slipped. In Asia, Tokyo gained as a stronger dollar boosted exporters, while Hong Kong and Shanghai fluctuated. Seoul, Taipei, and Jakarta advanced, but Sydney, Singapore, Wellington, and Manila retreated.
Gold held near $3,660 an ounce after hitting a record above $3,707 on Wednesday. Oil prices slipped, with Brent crude down 0.4% to $67.66.
In corporate news, Australian energy firm Santos tumbled nearly 12% after a consortium led by Abu Dhabi’s state oil company withdrew a takeover bid.
Key Figures (as of 0230 GMT):
Tokyo (Nikkei 225): +1.1% at 45,277.43
Hong Kong (Hang Seng): –0.4% at 26,813.58
Shanghai Composite: +0.2% at 3,882.18
Euro/dollar: $1.1816 (+0.0005)
Pound/dollar: $1.3622 (–0.0004)
Dollar/yen: ¥147.04 (+0.04)
WTI Crude: –0.5% at $63.73
Brent Crude: –0.4% at $67.66
New York (Dow): +0.6% at 46,018.32 (close)
London (FTSE 100): +0.1% at 9,208.37 (close)
Source: Channels Television
Asian markets were choppy on Thursday after the U.S. Federal Reserve cut interest rates by 25 basis points but left investors uncertain about the pace of future easing.
The move, the Fed’s first reduction since December, came in response to weakening labor market data despite inflation remaining above the 2% target. Chair Jerome Powell said “labour demand has softened” and job creation is running below levels needed to stabilize unemployment.
The Fed’s forecast showed a split outlook: a slim majority of policymakers anticipate two more cuts, while others see no further action this year. Powell stressed decisions would be made “meeting by meeting.”
U.S. markets ended mixed, with the Dow edging higher while the S&P 500 and Nasdaq slipped. In Asia, Tokyo gained as a stronger dollar boosted exporters, while Hong Kong and Shanghai fluctuated. Seoul, Taipei, and Jakarta advanced, but Sydney, Singapore, Wellington, and Manila retreated.
Gold held near $3,660 an ounce after hitting a record above $3,707 on Wednesday. Oil prices slipped, with Brent crude down 0.4% to $67.66.
In corporate news, Australian energy firm Santos tumbled nearly 12% after a consortium led by Abu Dhabi’s state oil company withdrew a takeover bid.
Key Figures (as of 0230 GMT):
Tokyo (Nikkei 225): +1.1% at 45,277.43
Hong Kong (Hang Seng): –0.4% at 26,813.58
Shanghai Composite: +0.2% at 3,882.18
Euro/dollar: $1.1816 (+0.0005)
Pound/dollar: $1.3622 (–0.0004)
Dollar/yen: ¥147.04 (+0.04)
WTI Crude: –0.5% at $63.73
Brent Crude: –0.4% at $67.66
New York (Dow): +0.6% at 46,018.32 (close)
London (FTSE 100): +0.1% at 9,208.37 (close)
Source: Channels Television
Asian Stocks Mixed After Fed Cuts Rates by 25 Points
Asian markets were choppy on Thursday after the U.S. Federal Reserve cut interest rates by 25 basis points but left investors uncertain about the pace of future easing.
The move, the Fed’s first reduction since December, came in response to weakening labor market data despite inflation remaining above the 2% target. Chair Jerome Powell said “labour demand has softened” and job creation is running below levels needed to stabilize unemployment.
The Fed’s forecast showed a split outlook: a slim majority of policymakers anticipate two more cuts, while others see no further action this year. Powell stressed decisions would be made “meeting by meeting.”
U.S. markets ended mixed, with the Dow edging higher while the S&P 500 and Nasdaq slipped. In Asia, Tokyo gained as a stronger dollar boosted exporters, while Hong Kong and Shanghai fluctuated. Seoul, Taipei, and Jakarta advanced, but Sydney, Singapore, Wellington, and Manila retreated.
Gold held near $3,660 an ounce after hitting a record above $3,707 on Wednesday. Oil prices slipped, with Brent crude down 0.4% to $67.66.
In corporate news, Australian energy firm Santos tumbled nearly 12% after a consortium led by Abu Dhabi’s state oil company withdrew a takeover bid.
Key Figures (as of 0230 GMT):
Tokyo (Nikkei 225): +1.1% at 45,277.43
Hong Kong (Hang Seng): –0.4% at 26,813.58
Shanghai Composite: +0.2% at 3,882.18
Euro/dollar: $1.1816 (+0.0005)
Pound/dollar: $1.3622 (–0.0004)
Dollar/yen: ¥147.04 (+0.04)
WTI Crude: –0.5% at $63.73
Brent Crude: –0.4% at $67.66
New York (Dow): +0.6% at 46,018.32 (close)
London (FTSE 100): +0.1% at 9,208.37 (close)
Source: Channels Television
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