Asian stocks markets decrease at Thursday’s end due to Powell’s comments
Asian stocks markets decrease at Thursday’s end due to Powell’s comments
Date
11/3/2022 8:25:57 AM
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(MENAFN) Main Asian share markets ended in the red territory on Thursday, as Federal Reserve Chair Jerome Powell lowered expectations that the central bank could stop interest rate rises.
On Wednesday, the Fed increased its main interest rate by 75 basis points for the fourth time in a row to battle peak inflation, carrying the aim range for the federal funds level to among 3.75 percent and 4 percent — its peak since in more than 14 years (January 2008).
There are “some ways to go” with rate rises and the “ultimate level” of surges are going to be more than earlier estimated, Powell noted throughout a news meeting following the decision of the Fed’s two-day gathering.
The Asia Dow, which contains blue-chip firms in the area, fell 2 percent, to finish at 2,854.5 points.
Tokyo’s Nikkei 225 was marginally lower by 0.06 percent, to end standing at 27,663.4.
The Hang Seng, the main for blue-chip shares exchanging on the Hong Kong stock exchange, dropped 3.08 percent, to reach 115,339.49.
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