Asian Stocks Mirror Wall Street Fluctuations: High Interest Rates Persist Post-Fed Decision
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- Asian markets fluctuated in early Thursday trading following a mixed finish for U.S. stocks as the Federal Reserve delayed cuts to interest rates.
- The Japanese yen surged by as much as 2% in early Asia hours Thursday, driven by speculations of another round of yen-buying intervention by Japanese authorities and a weaker U.S. dollar following the Fed meeting.
- South Korea’s Kospi edged 0.1% lower after official data showed the country’s consumer prices in April reached 2.9% year on year, a slower pace compared to the data in March.
Asian markets wobble as Federal Reserve delays interest rate cuts, causing a surge in the Japanese yen and a slight decline in South Korea’s Kospi.
Fluctuations in Asian Markets
Asian markets experienced a wobble in early Thursday trading. This followed a mixed finish for U.S. stocks, with the Federal Reserve delaying cuts to interest rates. U.S. futures surged, and oil prices were higher. Tokyo’s Nikkei 225 index opened with a decline, then climbed 0.1% to 38,299.71.
Surge in the Japanese Yen
The Japanese yen surged by as much as 2% in early Asia hours Thursday. This was driven by speculations of another round of yen-buying intervention by Japanese authorities and a weaker U.S. dollar following the Fed meeting. Later, the yen rever... Read the full article for FREE at COINOTAG!
