Asia-Pacific markets largely rise as Fed holds rates and shifts dot plot; EV stocks surge despite EU tariffs
Publishing timestamp: 2024-06-13 03:47:31
Summary
The Federal Reserve projects only one rate cut this year but increases total projected rate cuts to four by 2025. Asia markets responded positively to the decision, with major markets in the region seeing gains. Stocks in the electric vehicle sector performed well despite EU tariffs on Chinese EV makers. Inflation remains elevated but has shown modest progress towards the Fed's 2% target. U.S. markets also rose in response to the Fed's decision and May inflation reading.
Sentiment: NEUTRAL
Tickers: .IXIC, .N225, .SPX, .HSI, 9866-HK, ZE594-CN, .AXJO, .KS11, 2015-HK, .DJI,
Keywords: s&p 500 index, asia economy, breaking news: markets, nikkei 225 index, byd co ltd, kospi index, hang seng index, li auto inc, business news, world markets, markets, nio inc,