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Asian stocks climb on Fed decision
Asian stocks rose slightly after the U.S. Federal Reserve raised interest rates for the first time since 2023, by 25 basis points to a range between 3.75% and 4%. This move followed the Fed chair’s focus on inflation and efforts to calm bond market fears, which led to a decline in Wall Street. The Fed is expected to continue raising rates potentially until the end of the year, with mixed performances among tech and semiconductor stocks in Asia amid concerns about the impact of higher borrowing costs on valuations. Markets also anticipate that the Bank of England will keep interest rates unchanged today, while the Bank of Japan is expected to raise rates on Friday, as oil prices declined to around $105.75 per barrel.
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