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Regional markets mixed as US Fed pauses rate hikes but further increases loom

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Tan Nai Lun

Tan Nai Lun

Published Thu, Jun 15, 2023 · 04:58 PM
    • The US Fed has kept interest rates unchanged, but says borrowing costs will likely rise by another half of a percentage point by the end of this year.
    • The US Fed has kept interest rates unchanged, but says borrowing costs will likely rise by another half of a percentage point by the end of this year. PHOTO: BLOOMBERG

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    REGIONAL markets traded mixed on Thursday (Jun 15) after the US Federal Reserve at its latest Federal Open Market Committee meeting said it would skip a hike in interest rates.

    On Wednesday, the Fed kept interest rates unchanged, but said borrowing costs will likely rise by another half of a percentage point by the end of this year. This comes amid stronger-than-expected economic growth and a slower decline in inflation.

    The Hang Seng Index closed 2.2 per cent higher and the SSE Composite Index ended up 0.7 per cent, while the Nikkei 225 closed 0.1 per cent lower, and the Kospi Composite Index ended down 0.4 per cent.

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