Stock market today: Asian markets wobble after Fed sticks with current interest rates
HONG KONG (AP) — Asian markets wobbled in Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates.
U.S. futures surged and oil prices were higher.
Tokyo’s Nikkei 225 index dropped 0.1% to 38,236.07.
The Japanese yen surged as much as 2% in early Asia hours Thursday, driven by speculations of another round of yen-buying intervention by Japanese authorities and a weaker U.S. dollar following the Fed meeting. Later, the yen reversed its course and erased the previous gains. The dollar was trading at 155.31 yen, up from 154.91 yen.
“As expected, Japan’s Ministry of Finance, via the Bank of Japan, was back selling U.S. dollars to stabilize the yen. Indeed, the Japanese government is digging into their sizable 1.2-trillion-USD war chest, looking to take profit on the dollar they bought back in 2000,” Stephen Innes, managing partner at SPI Asset Management, said in a commentary. He said the hope was to stabilize yen around 155-157 to the dollar.
Related articles
RFK Jr. files complaint over rules for CNN's presidential debate next month
PHOENIX (AP) — Independent presidential candidate Robert F. Kennedy Jr. filed an election complaint2024-06-03Mexican president accuses U.S., Canada of ambiguous stance on Ecuador
(Xinhua) 10:53, April 10, 2024MEXICO CITY, April 9 (Xinhua) -- Mexican President Andres Manuel Lopez2024-06-03Overseas experts hail Xi's notion of building modern Chinese civilization
(Xinhua) 08:52, June 05, 2023People visit the Yongdingmen Gate in Beijing, capital of China, Aug. 162024-06-03Indian gov't steps in as Vistara airline cancels, delays flights
(Xinhua) 16:14, April 02, 2024NEW DELHI, April 2 (Xinhua) -- India's federal civil aviation ministry2024-06-03Reliever Drew Smith back with Mets after missing almost 6 weeks with shoulder soreness
NEW YORK (AP) — Reliever Drew Smith was activated from the 15-day injured list by the New York Mets2024-06-03State Council meeting studies policies to sustain economic recovery
(Xinhua) 08:08, August 01, 2023BEIJING, July 31 (Xinhua) -- China's State Council on Monday stressed2024-06-03
atest comment