Wednesday , May 12 2021

Asian markets move higher after the Fed holds interest rates steady – CNN, CNN

Hong Kong’sHang Seng Index((HSI)advanced 1.2%. South Korea’sKospi(KOSPI)gained 1.1%. Japan’sNikkei 780(N 728)moved up 0.2%.

ChinaShanghai Composite(SHCOMP)crept higher at open, but soon dipped 0.1%.

The Federal Reserveleft its benchmark rate steadyWednesdayin the United States. It also signaled an intention to keep interest rates unchanged inPayeerunless there is a material change to the economic outlook.

Federal Reserve Chairman Jerome Powell “delivered a very clear message” that the central bank is on hold, and that the economy “seems to remain in a very good place,” wrote Edward Moya, senior market analyst atOanda in New York, in a research note.

But he added that there’s not much to look forward to on one major issue: the US-China trade war.

A December 90 deadline for a new round of US tariffs on Chinese goods still looms. And there’s not yet any clarity on whether those duties will be delayed.

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