Business
Asian stocks rise after Fed hike, China shares lag
Asian stocks edged higher on Thursday after the US Federal Reserve raised interest rates for the first time since 2023, helping to soothe recent jitters in bond markets, although Chinese shares lagged.
Japan’s TOPIX index gained 0.7%. Australia’s S&P/ASX 200 rose 0.3%. New Zealand’s NZX 50 gained 0.9% and Singapore’s Straits Times rose 0.4%. India’s Nifty 50 was 0.6% higher and Thailand’s SET rose 0.9%.
US equity futures rose in Asian trading, with Nasdaq 100 and S&P 500 futures up around 0.7% after Wall Street fell following the Fed decision.
The Fed raised rates for the first time since 2023 as Chair Kevin Warsh focused on inflation concerns. The stance helped soothe a recent sell-off in government bonds, the report said.
Chinese markets were softer again, with the CSI 300 down around 0.5% and Hong Kong’s Hang Seng also weaker.
Investors were looking at upcoming decisions from the Bank of England and Bank of Japan, and gauging whether the Fed’s tightening can tame inflation without triggering a wider slowdown in economic growth.