Asia Pacific Markets Fall after Fed’s Decision to Hold Rates

On Thursday morning (2 May, 9:14 AM, GMT+7, Bangkok time), most major indices in Asia Pacific fell as the US Federal Reserve disclosed its decision to hold interest rates steady. Meanwhile, investors shifted their focus to the Japanese yen after the currency weakened to 160 against the US dollar on Monday, with skepticism on the possibility that the Japanese government had intervened in the moves in the currency.


Japan’s NIKKEI slid by 0.23% to 38,185.29. South Korea’s KOSPI dropped by 0.26% to 2,684.98, while Australia’s ASX 200 climbed by 0.55% to 7,611.7.

As for stocks in China, Shanghai’s SSEC edged down by 0.26% to 3,104.82. Shenzhen’s SZI declined by 0.9% to 9,587.12, while Hong Kong’s HSI rose by 0.7% to 17,886.96.


Meanwhile, the US stock markets were mixed on Wednesday as NASDAQ contracted by 0.33% to 15,605.48. S&P 500 fell by 0.34% to 5,018.39, while the Dow Jones Industrial Average (DJIA) grew by 0.23% to 37,903.29. VIX slumped by 1.66% to 15.39.


As for commodities, oil prices settled lower on Wednesday as crude supply rose over sluggish demand, while the push for a cease-fire in Gaza from the US and its partners continued. Brent lost $2.89 or 3.35% to $83.44 per barrel, and the West Texas Intermediate (WTI) dropped $2.93 or 3.58% to $79 a barrel.

This morning, Brent gained 30 cents or 0.36% to $83.74 a barrel, and the WTI increased 29 cents or 0.37% to $79.29 per barrel.

Meanwhile, gold futures jumped by 1.04% to $2,335 per Troy ounce.