Stock market today: Asian benchmarks are mixed while US seems committed to current rates
Time:2024-05-21 19:25:37 Source:entertainmentViews(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.
Previous:Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
Next:With Djokovic awaiting the winner, Murray trails Hanfmann at rain
You may also like
- Red Lobster seeks bankruptcy protection after closing some restaurants
- Jeremy Clarkson leads emotional tributes as BBC Top Gear legend dies aged 80
- MacKinnon versus Hellebuyck highlight first
- The ultimate tiger mum: Watch a tigress's heart
- Georgia Republicans choose Amy Kremer, organizer of pro
- Cristian Arongo has 2 goals, 2 assists as Real Salt Lake beats Fire 4
- Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
- Konnor McClain, Haleigh Bryant help LSU women win first NCAA gymnastics title
- US overdose deaths dropped in 2023, the first time since 2018