Asian markets mostly rise as Fed seeks to cut rates
- Asian Market
- 4 months ago
Asian indices have closed the day on a high note following the Fed’s Jerome Powell hinting at a possible rate cut later this year.
In mainland China the Shanghai composite increased by 0.5% while the Shenzhen component retreated by 0.1% and the Shenzhen composite, too, fell by the same margin.
In Hong Kong the Hang Seng index closed the session by gaining 0.7%.
Over in Tokyo the Nikkei 225 climbed by 0.5% as shares of Nintendo surged by 4.1%, meanwhile the smaller cap Topix also gained 0.4%.
Seoul’s Kospi index closed higher by 1% while in Australia the ASX 200 rose by 0.4% despite the country’s financial regulator threatening to prosecute some of the bigger banks as it seeks to address the sale of insurance products.
Source: Smart Trend Team