Asian markets today: Japan’s Nikkei 225 climbed over 1 per cent to a new record high on Wednesday amid mixed trading across Asian markets, as investors awaited the US Federal Reserve’s interest rate decision — widely expected to deliver a second consecutive 25-basis-point cut.
The Topix index was little changed, while South Korea’s Kospi edged up 0.17 per cent and the Kosdaq slipped 0.25 per cent.
Australia’s S&P/ASX 200 declined 0.16 per cent, and Hong Kong markets remained closed for holidays.
US Fed meeting expectations
Investors are pricing in nearly a 100 per cent chance of another quarter-point rate cut following September’s reduction, which would lower the federal funds rate to a range of 3.75%–4.00%.
The federal funds rate, determined by the Federal Open Market Committee, is the rate banks charge one another for overnight lending. Although it doesn’t directly impact consumers, the Fed’s rate decisions often influence borrowing costs on mortgages, credit cards, and other loans.
(This is a developing story)
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
