logo

6 months ago

Asian stocks follow Wall Street rally after Fed rate decision

stocks
interest rates
Federal Reserve
Video version coming soon
Asian stocks follow Wall Street rally after Fed rate decision

Asian Markets React to Fed's Rate Cut

Asian stock markets have rallied, mirroring Wall Street's positive reaction to the Federal Reserve's first interest rate cut in over four years. This decision marks a shift in the Fed's focus towards maintaining job market stability and preventing a recession.

  • Japan's Nikkei 225 index surged 2.1% to 37,935.58
  • Hong Kong's Hang Seng added 1.1% to 18,206.68
  • China's Shanghai Composite fell 0.2% to 2,729.69
  • Australia's S&P/ASX 200 rose 0.2% to 8,209.70
  • South Korea's Kospi increased 0.8% to 2,600.29

While markets generally responded positively, some critics argue that the Fed's delay in cutting rates may have already negatively impacted the economy. The upcoming U.S. presidential election adds another layer of uncertainty to future economic policies.

For the BOJ, given current economic conditions and recent central bank rhetoric, further policy adjustments are not expected until later this year or early 2025.

Explore more articles like this

Subscribe to the Crypto Redefined newsletter

A weekly toolkit that breaks down the latest DeFi developments, offers sharp analysis, and uncovers new financial opportunities to help you make smart decisions with confidence. Delivered every Friday

logo