Most Asian markets track Wall St rally after Fed rate signals
6 days, 2 hours ago

Most Asian markets track Wall St rally after Fed rate signals

Hindustan Times  

Most Asian equities rose Thursday after US Federal Reserve boss Jerome Powell suggested any increase in consumer prices caused by tariffs would likely be short-lived, even as the central bank slashed its growth outlook and hiked inflation expectations. Most Asian markets track Wall St rally after Fed rate signals Markets have been seized by volatility recently as US President Donald Trump embarks on his hardball trade policy that has seen him impose painful duties on imports from major partners, stoking recession fears. After a closely watched meeting on Wednesday, the US central bank stood pat on borrowing costs for the second time in a row and said "uncertainty around the economic outlook has increased". It also predicted the economy would expand 1.7 percent this year, compared with 2.1 percent estimated in December, and tipped core inflation to hit 2.8 percent as opposed to the 2.5 percent previously seen. Hong Kong - Hang Seng Index: DOWN 1.0 percent at 24,525.12 Shanghai - Composite: DOWN 0.2 percent at 3,419.55 Tokyo - Nikkei 225: Closed for a holiday Euro/dollar: UP at $1.0912 from $1.0903 on Wednesday Pound/dollar: UP at $1.3010 from $1.3002 Dollar/yen: DOWN at 148.27 yen from 148.71 yen Euro/pound: UP at 83.88 pence from 83.82 pence West Texas Intermediate: UP 0.5 percent at $67.50 per barrel Brent North Sea Crude: UP 0.4 percent at $71.06 per barrel New York - Dow: UP 0.9 percent at 41,964.63 points London - FTSE 100: FLAT at 8,706.66 dan/sco INDEX CORP. Dow This article was generated from an automated news agency feed without modifications to text.

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