Stock market today: Asian benchmarks are mixed while US seems committed to current rates
Time:2024-04-30 21:18:04 Source:opinionsViews(143)
TOKYO (AP) — Asian shares were trading mixed Wednesday, as expectations resurfaced that U.S. interest rates may stay high for a while.
Japan’s benchmark Nikkei 225 dipped 0.5% in afternoon trading to 38,296.69. Australia’s S&P/ASX 200 edged up less than 0.1% to 7,618.50. South Korea’s Kospi was little changed, inching down to 2,608.93. Hong Kong’s Hang Seng slipped 0.2% to 16,219.84, while the Shanghai Composite gained 1.1% to 3,040.72.
The mixed reaction came after Federal Reserve Chairman Jerome Powell said at an event Tuesday that the central bank has been waiting to cut its main interest rate, which is at its highest level since 2001, because it first needs more confidence inflation is heading sustainably down to its 2% target.
“Appetite for risk-taking remains weak, with Federal Reserve Chair Jerome Powell validating a later timeline for rate cuts, alongside a raft of Fed speakers calling for more patience in easing,” said Yeap Jun Rong, market analyst at IG.
You may also like
- Foreign diplomats impressed by traditional culture, high
- Luxury £1m homes are destroying our coastline
- Father rescued from migrant boat tragedy in Channel 'watched four
- Bucks' Giannis Antetokounmpo out for Game 2 against Pacers
- UN Chinese Language Day celebrated in Tunisia
- US Figure Skating championships headed to Wichita, Kansas, next year with worlds on tap for Boston
- Johnny Cueto signs minor league deal with Texas. He was an All
- Brits are told to 'go home' as anti
- Florida Panthers march on in NHL playoffs after long