Stock market today: Asian shares follow Wall St higher as markets await a rate decision by the Fed
Asian markets are mostly higher ahead of a decision by the Federal Reserve on the timing of cuts to interest rates
By ZIMO ZHONG
Published - Mar 20, 2024, 03:12 AM ET
Last Updated - Mar 20, 2024, 03:12 AM EDT
HONG KONG (AP) — Asian markets were mostly higher Wednesday ahead of expected guidance by the Federal Reserve on the timing of its cuts to interest rates.
Oil prices and U.S. futures fell.
Japan’s markets were closed for a holiday. On Tuesday, the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, raising the rate to a range of zero to 0.1% from minus 0.1%.
The U.S. dollar rose against the Japanese yen after the BOJ's comments on its decision suggested that a wide gap between interest rates in the United States and in Japan will persist for the foreseeable future. The dollar rose to 151.46 yen from 150.87 yen, trading at its highest level in four months.
