China Market shut on Thursday for public holiday

China share market closed on Thursday, 02 May 2019, for public holiday.

Stocks in Asia Pacific were mixed on Thursday, on following fall in Wall Street overnight after signs that the US Federal Reserve may not be considering rate cuts at the moment. Market losses were, however, capped after reports that the U.S. and China could announce a trade deal as soon as next Friday.

The U.S. Federal Reserve's pushed back on market expectations that its next move would be a rate cut in overnight monetary policy meeting. Federal Reserve officials voted to hold interest rates steady Wednesday, while Fed Chairman Jerome Powell said in a news conference that recent low inflationary pressures may only be transitory. That dashed speculation the central bank was entertaining the idea of a rate cut because of tame inflation. Data released earlier this week showed the US core personal consumption expenditure price index remained unchanged in March and was up 1.6% year over year below the Fed's 2% target. U.S. President Donald Trump had urged the Fed to cut rates by 1%age point this week because of low inflation.

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