Asian stocks follow Wall Street's rate-cut rally higher, as BOJ stands pat

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The Hang Seng in Hong Kong added 1.1% to 18,206.68 while the Shanghai Composite index fell 0.2% at 2,729.69. Wall Street’s gains followed rallies for markets across Europe and Asia after the Federal Reserve delivered its first cut to interest rates in more than four years on Wednesday. The Fed is still under pressure because the job market and hiring have begun to slow under the weight of higher interest rates. Some critics say the central bank waited too long to cut rates and may have damaged the economy.

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