Asia markets open mixed as Fed signals December rate cut is not a certainty

Asia-Pacific markets were mixed on Thursday, after US Federal Reserve Chairman Jerome Powell indicated that a December interest rate cut was far from a “foregone conclusion”.

The Federal Reserve on Wednesday cut the federal funds rate by 25 basis points, as expected, to 3.75%-4%.

In Asia, investors will be closely watching a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping – the first in-person meeting between the two leaders in Trump’s second term.

South Korea’s markets will also be in focus after Seoul’s top policy adviser, Kim Yong-beom, revealed details of the trade deal with Washington.

South Korea will invest $200 billion in the United States, with an annual maximum of $20 billion annually, while the remaining $150 billion of its total $350 billion pledges announced earlier this year will be used for shipbuilding cooperation, according to local media reports.

the Cosby It rose 1.37% at the open with gains seen in shares of automakers and shipbuilding companies, while the small-cap Kosdaq fell 0.1%.

Japan Nikki 225 It fell marginally below the flat line at the open, while the Topix rose 0.1%.

Australia Standard & Poor’s/ASX 200 The day started down 0.29%.

Hong Kong’s Hang Seng Index was poised to rise as trading resumed after the holiday break. HSI futures were at 26,598, higher than the last HSI close of 26,346.14.

overnight in the United States, Dow Jones Industrial Average The index closed lower on Wednesday after Powell’s comments, after reaching a record high earlier in the session.

The Dow Jones index closed 0.2% lower at 47,632.00, while the Dow Jones index closed 0.2% lower at 47,632.00 points. Standard & Poor’s 500 It ended trading slightly lower at 6,890.59.

However, Nasdaq Composite rose 0.55% to a new record closing high of 23,958.47 points, supported by a rise in Nvidia.

CNBC’s Sean Conlon and Sarah Main contributed to this report.