airport bank board business

Asian Stock Markets React to Fed Meeting Outcome

Asian stock markets showed mixed results as investors assessed the outcome of the Federal Reserve (Fed) meeting. In Hong Kong, the Hang Seng index closed at 21,958.36, down 113.82 points or 0.52%, due to late selling pressure, despite starting the day in positive territory. The chairman of the Fed indicated that inflation in the US had begun to slow, leading investors to expect a slowdown in rate hikes.

The Shanghai Composite in China ended up at 3,285.67, up 0.75 points or 0.023%, in line with most Asian stocks moving in positive territory.

Meanwhile, Australian stocks closed higher with the S&P/ASX 200 closing at 7,511.60 points, an increase of 9.90 points or 0.13%, and the All Ordinaries closing at 7,728.50 points, an increase of 18.80 points or 0.24%, driven by expectations of a slowdown in US interest rate hikes.

The South Korea Composite Index (KOSPI) ended at 2,468.88 points, up 19.08 points or 0.78%, after the Fed raised interest rates and signaled a slowing of inflation in the US. The South Korean won currency also strengthened against the dollar.

In Tokyo, the Nikkei index ended at 27,402.05, up 55.17 points or 0.20%, after the Federal Reserve Chairman Jerome Powell stated that inflation in the US had started to slow, leading investors to believe that the end of interest rate hikes was near.

Thailand’s SET index closed at 1,682.58 points, a decrease of 3.17 points or -0.19%, swinging within a narrow range. The initial reaction to the Fed’s interest rate hike of 0.25% was positive, but it did not hold.

Leave a Reply

Change Language
%d bloggers like this: