Asian Stocks Plunge as Fed Signals Slower Rate Cuts, BOJ Meeting in Focus

Asian stocks plunged on Thursday, with technology shares leading the decline following the Federal Reserve's projection of a slower pace of interest rate cuts in 2025. This outlook presents a more challenging environment for risk-sensitive markets. The spotlight now turns to the conclusion of a Bank of Japan meeting later in the day, with analysts divided on whether the bank will raise or maintain interest rates.

A Reuters report suggests policymakers lean towards a hold in December but are actively considering rate hikes due to Japan's economic resilience and recent inflation uptick. The BOJ has already raised rates twice in 2024, marking a historic departure from nearly a decade of ultra-loose monetary policy. Governor Kazuo Ueda has also indicated intentions for further rate increases. South Korea's KOSPI index tumbled 1.7%, with sentiment remaining fragile amid heightened political turmoil following President Yoon Suk Yeol's impeachment over an unsuccessful attempt to impose military rule. Samsung Electronics and SK Hynix, major technology companies, were significant drags on the KOSPI, shedding 3.8% and 2.7% respectively. These losses mirrored a 16% slump in U.S. counterpart Micron Technology Inc, as the chipmaker's quarterly revenue guidance fell short of expectations. This miss sparked concerns about the resilience of artificial intelligence demand, particularly in the face of growing global economic headwinds. Hong Kong and Shanghai composite indexes also experienced declines of 0.4% and 0.7% respectively. However, larger losses in Chinese stocks were partially offset by optimism surrounding Beijing's plans for increased fiscal spending in 2025. China's CSI 300 index suggested a mildly positive opening, offering some respite after three consecutive days of steep losses

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks Plunge as Fed Signals Slower Rate Cuts, Inflation ConcernsMajor stock indices fell sharply on Wednesday as the Federal Reserve indicated a slower pace of interest rate cuts for 2025, raising concerns about persistent inflation.
Source: NBCNews - 🏆 10. / 86 Read more »

Stocks Plunge as Fed Signals Fewer Rate Cuts in 2025U.S. stocks experienced a significant downturn following the Federal Reserve's announcement of a potential decrease in interest rate cuts for 2025 compared to previous projections. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all saw notable losses, driven by investor unease regarding the Fed's revised outlook.
Source: CBSNews - 🏆 87. / 68 Read more »

US Stocks Plunge After Fed Signals Fewer Rate CutsUS stocks experienced their second-worst loss of the year following the Federal Reserve's indication of potentially fewer interest rate cuts in 2025 than previously anticipated. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all saw significant declines, fueled by the Fed's revised projections of only two rate cuts next year, compared to the four projected earlier.
Source: OakTribNews - 🏆 597. / 51 Read more »

Stock market today: Asian stocks are mostly higher ahead of Federal Reserve's meetingAsian stocks are mostly higher ahead of the Fed’s last rate decision this year.
Source: ksatnews - 🏆 442. / 53 Read more »

Asian Stocks Rise Ahead of Fed Rate DecisionStock markets in Asia mostly climbed on Wednesday, anticipating the Federal Reserve's final interest rate announcement for 2024. Japan's Nikkei 225 saw a slight dip despite positive export growth.
Source: wjxt4 - 🏆 246. / 63 Read more »