The Business Times
business-time-50

Asian markets rally after Fed pauses interest rate hikes

google-preferred-sourceAdd BT as a preferred source
Tan Nai Lun

Tan Nai Lun

Published Thu, Nov 2, 2023 · 12:06 PM
    • Fed chair Jerome Powell has acknowledged that there has been significant tightening of financial conditions in recent months, leading traders to believe that the Fed was done with hikes.
    • Fed chair Jerome Powell has acknowledged that there has been significant tightening of financial conditions in recent months, leading traders to believe that the Fed was done with hikes. PHOTO: AFP

    ASIAN stocks rallied on Thursday (Nov 2) after the US Federal Reserve signalled that the cycle of interest rate hikes may be coming to an end.

    On Wednesday, the Fed kept interest rates unchanged. Fed chair Jerome Powell also acknowledged that there has been significant tightening of financial conditions in recent months, leading traders to believe that the Fed is done with hikes.

    Regional markets ended mostly higher on Thursday. The Nikkei 225 gained 1.1 per cent, the Kospi Composite Index rose 1.8 per cent, and the Hang Seng Index climbed 0.8 per cent.

    US Federal ReserveInterest ratesAsia Stocks

    TRENDING NOW

    Hong Kong youth no longer see a stable job and a lifetime of work as the only life goal – instead, they place greater emphasis on freedom and quality of life.

    Not in education, employment or training: Why more Hong Kong youths are opting out of work

    Vincent Tan, founder of Berjaya Group, has reduced his holdings in multiple companies within the group.

    Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan

    Buntono is accused of possessing properties that, in part, represent his benefits from income tax evasion, including a Lamborghini Aventador similar to the one pictured.

    Lamborghini-driving boss of Eminent Frog Porridge charged with S$3.8 million tax evasion, money laundering

    Labubu used to be the No 1 most searched keyword in the toys and games subcategory on Carousell, but has now dropped out of the top 100 entirely.

    Can Labubu and Pop Mart survive the future?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More