Stock market today: Asian markets wobble after Fed sticks with current interest rates
Time:2024-05-20 02:01:03 Source:businessViews(143)
HONG KONG (AP) — Asian markets wobbled in Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates.
U.S. futures surged and oil prices were higher.
Tokyo’s Nikkei 225 index dropped 0.1% to 38,236.07.
The Japanese yen surged as much as 2% in early Asia hours Thursday, driven by speculations of another round of yen-buying intervention by Japanese authorities and a weaker U.S. dollar following the Fed meeting. Later, the yen reversed its course and erased the previous gains. The dollar was trading at 155.31 yen, up from 154.91 yen.
“As expected, Japan’s Ministry of Finance, via the Bank of Japan, was back selling U.S. dollars to stabilize the yen. Indeed, the Japanese government is digging into their sizable 1.2-trillion-USD war chest, looking to take profit on the dollar they bought back in 2000,” Stephen Innes, managing partner at SPI Asset Management, said in a commentary. He said the hope was to stabilize yen around 155-157 to the dollar.
Previous:China's top diplomat holds talks with Brunei's second minister of foreign affairs
Next:Biden will deliver Morehouse commencement address during a time of tumult on US college campuses
You may also like
- Leicester City are CHAMPIONS! Foxes secure Championship title after they beat Preston 3
- Chicago appeals court rejects R. Kelly 's challenge of 20
- Slavia Prague fined $93,000 for crowd violence at Europa League game
- Orbán challenger leads protest calling for child protection after sexual abuse scandal in Hungary
- Neymar left off Brazil's squad for Copa America
- Book Review: Emily Henry is still the modern
- Moment crooked dine
- I have £300,000 invested in a pension
- South China's Beijiang River sees second flood this year