Stock market today: Asian shares gain after US Fed cuts interest rates

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People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Nov. 8, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Nov. 8, 2024, in Tokyo. – Asian shares advanced Friday after most U.S. stocks rose as the Federal Reserve cut interest rates again to ease pressure on the economy.

In South Korea, the Kospi surged 0.7% to 2,581.50, while Australia’s S&P/ASX 200 gained 0.9%, to 8,302.10.The Fed’s announcement that it was easing its main interest rate by a quarter of a percentage point caused few ripples in the market because even the precise size of it was so well anticipated by investors.

At this point, Powell said it’s still not clear what the policies will be after Trump returns to the White House.JPMorgan Chase fell 4.3%, a day after banks decisively led the market on expectations that a stronger economy and lighter regulation would mean fatter profits. It and Goldman Sachs were the biggest reasons for the Dow Jones Industrial Average's slight loss.

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Stock market today: Asian shares gain after US Fed cuts interest ratesAsian shares have advanced after most U.S. stocks rose as the Federal Reserve cut interest rates again to ease pressure on the economy. Regional investors were watching for much-anticipated steps by Beijing to rev up the slowing Chinese economy as the top body of the national legislature wrapped up a meeting this week. Oil prices fell while U.S.
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