Investing.com-- Asian stocks were a mixed bag on Thursday as fears of U.S. interest rates remaining high for longer remained in play, although the Federal Reserve did downplay any expectations for further interest rate hikes.
Regional markets took middling cues from a negative overnight close on Wall Street, although U.S. indexes did end above their intraday lows after Fed Chair Jerome Powell said the bank had no intention of raising interest rates further. But Powell also said that progress towards its 2% inflation target appeared to be stalling, which heralded no immediate plans for rate cuts.index was the best performer in Asia on Thursday, rising 1.2% and coming close to a five-month peak hit earlier this week.
The move, which comes after a 13-year freeze on buying multiple homes, was aimed chiefly at further stimulating the property market, which has been grappling with an over three-year downturn.Mainland Chinese markets were closed for a holiday, and will remain closed for the remainder of the week.Suspected currency market intervention by the Japanese government saw the yen whipsaw wildly this week.
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