Asian markets end mostly lower on Thursday

Asian markets ended mostly lower on Thursday, weighed down after the US Federal Reserve left interest rates unchanged in a divided vote and Chair Jerome Powell signaled caution on the likelihood of a rate cut in September. Meanwhile, investors were evaluating the United States’ 15% tariffs on imports from South Korea and 25% duties on imports from India, along with an unspecified penalty. Chinese and Hong Kong shares declined after data showed China’s factory activity unexpectedly deteriorated in July to a three-month low, while Chinese leaders signaled they would refrain from rolling out more major stimulus for now. However, Japanese shares rallied after the Bank of Japan (BoJ) held its key interest rate steady at 0.5% in a unanimous vote and raised its inflation forecast.