Asian stocks mixed as Fed slashes rates

Stocks in Asia were mixed on Thursday after the U.S. Federal Reserve cut interest rates for the third time this year and indicated the possibility of a pause in easing monetary policy.

Asian Stocks

  • South Korea’s Kospi closed 0.15% higher at 2,083.48.
  • Japan, the Nikkei 225 rose 0.37% to close at 22,927.04, with shares of index heavyweight Softbank Group surging 3.71%.
  • The Topix index finished slightly higher at 1,667.01.
  • The Shanghai composite fell 0.35% to about 2,929.06 and the Shenzhen component was 0.48% to 9,635.33.
  • The Shenzhen composite declined 0.763% to around 1,616.19.
  • Hong Kong’s Hang Seng index, on the other hand, advanced 0.76%, as of its final hour of trading.
  • The S&P/ASX 200 in Australia shed 0.39% on the day to 6,663.40,

Currency Markets

  • The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.329 after spiking above 97.8 yesterday.
  • The Japanese yen traded at 108.67 against the dollar after strengthening from levels above 109.2 in the previous session.
  • The Australian dollar changed hands at $0.6921 after rising from levels below $0.688 yesterday.

Currencies and oil

  • Brent crude futures adding 0.45% to $60.88 per barrel.
  • U.S. crude futures also rose 0.45% to $55.31 per barrel.

Source: CNBC

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