Stock market today: Asia shares mostly rise while some regional markets stay closed for holidays
Asian shares are mostly higher in muted trading after the U.S. Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through lower rates in September
TOKYO — Asian shares mostly rose Thursday after the U.S. Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through easier rates in September.
Some Asia-Pacific markets remained closed for the Lunar New Year holiday.
Investors remain uncertain over the outlook for the U.S. economy and over what’s ahead from the administration of President Donald Trump.
Japan's benchmark Nikkei 225 rose 0.2% to 39,499.10 in afternoon trading. Australia's S&P/ASX 200 gained 0.6% to 8,493.70.
SoftBank Group's stock dipped 1.2% after reports it was in talks to possibly invest in OpenAI, while Nissan Motor's shares gained 1.3% after the Japanese automaker confirmed plans to reduce production in the U.S.
On Wednesday, the S&P 500 fell 0.5% to 6,039.31 following the Fed’s widely expected decision. The Dow Jones Industrial Average dipped 0.3% to 44,713.52, and the Nasdaq composite fell 0.5% to 19,632.32.
The Fed’s decision could hint at rates staying on hold for a while following their swift drop at the end of 2024. Lower rates would help the economy by making it cheaper for U.S. households and companies to borrow, but the downside is they could also fuel more inflation.
The yield on the 10-year Treasury held at 4.53%, where it was late Tuesday.
Fed Chair Jerome Powell said the U.S. central bank could cut rates if inflation slows further or if the job market suddenly weakens. But “right now, we don’t see that, and we see things as in a really good place for policy and for the
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