Asian shares held steady as a global bond selloff pushed long-term US yields to multi-year highs
The ADB forecasts inflation for the developing Asia-Pacific region at 4.2% this year and 3.5% next year, both well above the 3% recorded in 2025
Renewed buzz over AI helped South Korean stocks gain 1.2%, with Samsung and SK Hynix both up over 2%
Attention is also turning to a high-stakes meeting between Donald Trump and Xi Jinping later this week
Japan's Nikkei was shut but futures rose 0.5%, while South Korea's tech-heavy index gained 1.1%
Traders also took their cues from a rally on Wall Street overnight, led by beaten-down tech stocks
Sensex Today | Stock Market Highlights, Thursday: In the broader markets, the Nifty MidCap and the Nifty SmallCap rose 0.92 per cent and 0.76 per cent, respectively
Asian shares were mixed on Thursday after Wall Street closed lower following the Federal Reserve's interest rate hike decision for the first time in three years. US futures were higher. The quarter of a percentage point increase brings the Fed's key rate to a target range of 3.75%-4.00%, as it attempts to control US inflation that's been stubbornly above its target. Japan's Nikkei 225 index was 0.2% higher at 64,067.53. South Korea's Kospi gained 0.9% to 6,778.49. The Hong Kong Hang Seng fell 0.7% to 24,533.46, while the Shanghai Composite index lost 0.4% to 3,877.46. Australia's S&P/ASX 200 climbed 0.3% to 8,718.20. Taiwan's Taiex jumped 1.3%, while India's Sensex edged up 0.3%. On Wednesday, Wall Street's benchmark S&P 500 dropped 0.5%. The Dow Jones Industrial Average fell 1.2%, and the technology-heavy Nasdaq composite was mostly unchanged. Market reactions were "pretty much expected since the rate rise was also in line with market expectation," said Lorraine Tan, director
Stocks to watch today: LCC Projects, Karamtara Engineering, Manipal Payment, Rentomojo, Steamhouse India and Asset Reconstruction Company (India) are slated to list on the bourses today.
Overnight on Wall Street, the S&P 500 slumped 0.5%, marking its second consecutive day of declines as the yield on the 10-year Treasury bond hit its highest level since 2007
Asian equities struggled as investors assessed rising oil prices, West Asia tensions and concerns over AI development ahead of key US and Japan central bank meetings
SoftBank, Kioxia, SK Hynix and other AI-linked stocks fell in Asian trade after Anthropic's Dario Amodei, Elon Musk and Sam Altman backed calls to slow AI development
The loss of Qatari LNG supplies through the Strait of Hormuz has sharply raised costs for Asian emerging markets
With shipping through the strait and the Bab el-Mandeb under threat, analysts fear oil prices could stay elevated for a lengthy period, stoking inflation globally
Korea Exchange will extend trading in nearly all local stocks until 8 pm, seeking to boost foreign participation
MSCI's Asia-Pacific index fell 1 per cent, while Japan's Nikkei and South Korea's KOSPI dropped more than 1 per cent as investors weighed higher oil prices and the outlook for US monetary policy
Japan's Nikkei 225 fluctuated between gains and losses before edging up 0.2%, as the yen jumped as much as 0.6% to 153.51, its strongest level since February 18
In Asia, enthusiasm for tech stocks saw Japan's Nikkei rebound 2.2 per cent, after losing a similar amount last week, while South Korea rallied 3.1 per cent
Asian shares rose as investors awaited key US jobs data, while the yen rallied 2.6% this week after Fed Governor Christopher Waller eased fears of a rate hike
Asian stocks fell as renewed US-Iran fighting pushed Brent crude above $90 a barrel, while hawkish Fed signals lifted bets on a September rate hike