Most stocks rise as Fed hikes and indicates drive to curb inflation
Equity markets across Asia were mostly higher in early trade as Tokyo, Seoul, Singapore, Taipei, Wellington and Jakarta all advanced.
Asian equity markets experienced an early trading surge on Thursday (Sep 17) following the Federal Reserve's decision to raise interest rates for the first time in three years. The hike, led by Fed Governor Kevin Warsh, aimed to combat surging inflation, which currently stands at 3.4%. The decision, unanimous among the Fed members, came despite President Donald Trump's call for rate cuts.
The Fed reiterated its commitment to price stability, stating that policy would remain supportive of this goal. Traders responded positively to the news, with Asian markets advancing as investors looked for reassurance in the central bank's determination to address inflation. While Wall Street's major indexes initially closed in the red, the Fed's decision bolstered credibility and confidence in the bank's mission.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
