SINGAPORE – Asia-Pacific markets rallied on Thursday after tracking US stocks after the Federal Reserve raised benchmark interest rates by 75 basis points, which is at par Most aggressive hike since 1994,
of japan Nikkei 225’s The market rose nearly 2% after the opening and it was a sea of green between automakers and tech stocks. Sony was up about 2.4%, softbank group increased by about 1.45% while Toyota jumped about 4%.
in Australia, S&P/ASX 200 Was trading with a gain of about 0.6 percent. rio tinto, Fortescue Group And bhp All were growing at about 2%.
Over in South Korea, kospi The index also rose 1.61 per cent.
After the rate hike in the US, Wall Street was volatile, but market indices hit session highs after the Federal Open Market Committee moved the benchmark funds rate level to a range of 1.5%-1.75% – just before COVID The peak epidemic started in March 2020.
Fed Chairman Jerome Powell During his afternoon press conference also said that“We will most likely see an increase of either 50 basis points or 75 basis points in our next meeting.”
The Dow Jones Industrial Average ended five days lower at 30,668.53, jumping 303.70 points, or 1%. The S&P 500 rose 1.46% to 3,789.99, while the Nasdaq Composite ended the day up 2.5% at 11,099.15.
The Fed said in a statement: It was committed to reducing inflation – currently at a high of 8.6 per cent – to 2%. It also said it would continue to reduce its holdings of Treasury securities and agency debt and agency mortgage-backed securities.
Economic data for Asia Pacific today includes Australian unemployment figures and business data for Japan.
currencies
US Dollar IndexThe greenback, who tracks against a basket of his peers, was at 105.158 – turning down after hitting a high of 105.298 on Tuesday.
Japanese yen Traded at 134.07 per dollar, a marked improvement from earlier this week’s trading. Australian Dollar After weakening at $0.68 earlier this week, it was trading higher at $0.7002 against the US Dollar.