Asia stocks sag as Fed tempers Wall Street rally, dollar firm

0
58


TOKYO (Reuters) – Asian stocks dipped on Friday as Wall Street took a breather after the Federal Reserve kept intact its plans to continue raising interest rates at a gradual pace, with a fourth hike for this year expected next month.

FILE PHOTO – People walk past an electronic board showing Japan’s Nikkei average outside a brokerage in Tokyo, Japan, October 12, 2018. REUTERS/Toru Hanai

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.06 percent. The index was still headed for a sizable gain of more than 6 percent this week, during which it rose to a one-month high.

Australian stocks were flat, South Korea’s KOSPI .KS11 edged up 0.2 percent and Japan’s Nikkei .N225 fell 0.2 percent.

The Fed held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.

The central bank has hiked U.S. interest…



Read the Full Story here

LEAVE A REPLY