Asia Rises, But Markets Still Hesitant
Asia-Pacific markets rallied after US President Donald Trump said he would announce his Fed Chair pick on Friday morning, fueling speculation that interest rates could shift.
In the region, South Korea led the way—the Kospi rose about 1% and closed at a new high, while Japan trended slightly higher and the Hang Seng held positive.
Sentiment was also boosted in Washington: Trump supported a Senate deal to avert a shutdown by defunding the Department of Defense (DHS) and continuing five other budget plans (DHS is being funded temporarily).
Overnight, Wall Street traded mixed. The S&P 500 fell slightly to 6,969.01, the Nasdaq fell to 23,685.12, while the Dow edged up to 49,071.56—the main pressure coming from technology stocks, particularly Microsoft.
Meanwhile, risk assets also faltered: Bitcoin fell more than 5% and hit a near two-month low, indicating the market remains sensitive to the combination of Fed news, earnings, and US politics. (asd)
Source: Newsmaker.id