Asian markets ease on Powell's comments

WITH the US Federal Reserve's rate cut of 25 basis points announced following its July meeting, markets got what they expected. Afterall, markets globally have, in the two months leading up to Wednesday's meeting, already priced in this rate cut.

But central bank chairman Jerome Powell's leaning-on-hawkish statements led some to cast doubt on the possibility of further rate cuts this year, hitting sentiment and sending Wall Street's three main benchmarks closing at an average of 1.2 per cent lower on Wednesday.

The perceived lack of dovishness from Mr Powell's statements had less of an effect on markets in Asia.