Asia ends mostly higher after Powell rate cut hints

Thursday, 11. July 2019 08:16

Asian markets closed largely in the green Thursday after United States Federal Reserve Chairman Jerome Powell hinted at the possibility of an interest rate cut later in the month, sending US stocks soaring. However, the market optimism was somewhat dampened by continuing geopolitical tensions in the Middle East, where Iran reportedly attempted to seize a British oil tanker earlier in the day. The allegations were denied by the country's Revolutionary Guard, who said that there had not been any encounters with foreign vessels in the last 24 hours.

The Nikkei 225 closed 0.51% up while the South Korean Kospi Composite jumped 1.36% at 8:12 am CET.

In China, the Shanghai Composite was flat at 7:58 am CET while the Shenzhen Composite dropped 0.37% at 8:13 am CET. Hong Kong's Hang Seng rose 0.73% at the same time.

Meanwhile, Australia's S&P/ASX 200 gained 0.74% at 7:55 am CET.

The dollar fell 0.46% against the yen to go for ¥107.96 at 8:16 am CET.

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Breaking the News / DZ