Asian investors trod carefully Thursday after a Federal Reserve official floated the idea of delaying or reducing interest rate cuts, while the yen held gains having briefly hit a 34-year low the day before.
An electronic board displays stock prices of companies listed on the Tokyo Stock Exchange in Tokyo on March 4, 2024.HONG KONG, China —
"We made a lot of headway in reducing inflation in the past year or so, although the readings in the past two months have been disappointing," Waller said. Despite the worries, all three main indexes on Wall Street rose, with the S&P 500 clocking another record high. That comment came a week after the bank lifted interest rates for the first time in 17 years as it shifts away from its long-running ultra-loose monetary policy.
"It’s unlikely anyone will pay 152.01 yen for because of this risk, but in the absence of intervention before the weekend, we strongly suspect someone will next week."Hong Kong - Hang Seng Index: UP 0.6 percent at 16,488.66West Texas Intermediate: UP 0.7 percent at $81.93 per barrelNew York - Dow: UP 1.2 percent at 39,760.
The stock market eked out gains to move back up to the 6,900 level as investors continued to hunt for bargains.
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