Singapore — Asian stocks eased from a 19-month high on Thursday, while the dollar made an uneven recovery from losses suffered after Federal Reserve minutes indicated a cautious approach to raising US interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down almost 0.1%, having jumped to its highest level on Wednesday since July 2015. Japan’s Nikkei slipped 0.35%, while Australian shares retreated 0.2%. South Korean shares were flat after the central bank kept interest rates unchanged, at 1.25%, as expected, for an eighth consecutive month. Overnight on Wall Street, the Dow Jones Industrial Average ended up almost 0.2%, its ninth consecutive record close. That optimism however, did not flow through to other indices, with the S&P 500 and the Nasdaq both closing about 0.1% lower. The dollar edged higher as investors parsed the Fed’s January meeting minutes, which said that it may be appropriate to raise rates again "fairly soon" should jobs and inflation da...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.