Asia trades lower after Fed remarks

Thursday, 27. January 2022 05:10

Stocks in Asia-Pacific traded lower on Thursday as market participants reacted to the comments by the United States Federal Reserve Chair Jerome Powell and the US central bank's decision to hold rates.

Talking about the expected rate hike, Powel noted the potential decision will be made depending on whether the conditions for doing so are met, adding that the move is still expected in March.

In mainland China, the Shanghai Composite was 0.88% down at 4:30 am CET, with the Shenzhen Composite losing 1.52% at 4:56 am CET. At 4:57 am CET, the Australian S&P/ASX 200 plummeted by 2.13%, Hong Kong's Hang Seng fell by 2.58% and South Korea's Kospi went 3.30% down. The dollar went 0.05% up against the yen, going for ¥114.6440. at 4:59 am CET, Japan's Nikkei 225 dropped 2.74% or 737 points.

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