Asian markets today: Asian markets showed a mixed trend on Thursday after U.S. Federal Reserve Chair Jerome Powell signaled that a rate cut in December was far from certain.
South Korea’s Kospi hit record high on Thursday, opened 1.37 per cent higher, supported by gains in auto and shipbuilding stocks, while the Kosdaq slipped 0.1 per cent.
In Japan, the Nikkei 225 edged slightly below the flatline at the open, whereas the Topix gained 0.1 per cent.
Australia’s S&P/ASX 200 began the session 0.29 per cent lower.
Meanwhile, Hong Kong’s Hang Seng Index was set to open higher as trading resumed after a holiday, with HSI futures at 26,598 — above the previous close of 26,346.14.
On Wednesday, the Federal Reserve cut the benchmark federal funds rate by 25 basis points, as anticipated, bringing it down to a range of 3.75 per cent–4 per cent.
Meanwhile in Asia, investors are keeping a close eye on the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping — their first face-to-face interaction in Trump’s second term.
(This is a developing story)
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