By Asia-Pacific markets displayed mixed performance on Thursday following decisions by the U.S. Federal Reserve and China’s central bank to keep interest rates unchanged.
Australia’s S&P/ASX 200 climbed 1.02%, while South Korea’s Kospi rose 0.28%, and the Kosdaq gained 0.55%. In contrast, Hong Kong’s Hang Seng Index dropped 1.36%, and mainland China’s CSI 300 slipped 0.17% as Beijing navigated trade tensions and currency stability.
China maintained its one-year loan prime rate at 3.1% and the 10-year LPR at 3.6%, while the U.S. Federal Reserve held rates at 4.25% to 4.5%, hinting at potential cuts later in the year. Fed Chair Jerome Powell downplayed fears of a severe recession, boosting investor confidence.
U.S. stock futures remained steady after the S&P 500, Dow Jones, and Nasdaq Composite all posted gains, with the S&P 500 recovering from recent declines.