Stocks in Asia Pacific were mixed on Thursday, following the U.S. Federal Reserve’s overnight monetary policy decision and hints that the central bank is not considering a cut in interest rates at this moment.
In Hong Kong, the Hang Seng Index returned from May Day holidays with a gain of 245.07, or 0.8%, to 29,944.18. Shares of AIA soared 4.4%
In Korea, markets rose as shares of industry heavyweight Samsung Electronics rose 0.1% and chipmaker SK Hynix surged 2.2%.
Markets in Tokyo and Shanghai remained shuttered for holidays
The Japanese yen, widely seen as a safe-haven currency, traded at 111.53 against the U.S. dollar after seeing highs below 111.2 yesterday.
The Australian dollar was at $0.7019 U.S. after declining from levels above $0.704 yesterday.
On the U.S.-China trade front, reports are circulating that a trade deal between the two economic powerhouses could be announced by next Friday.
One analyst told the media that the market reaction, if and when a deal is announced, could be “a little bit more muted” than expected.
In other markets
In Singapore, the Straits Times Index came back from a day off with a loss of 6.87 points, or 0.2%, to 3,393.33
Korea’s Kospi index returned to gain 9.16 points, or 0.4%, to 2,212.75
In Taiwan, the Taiex Index regained 36.76 points to 0.3%, to 11,004.49
In Australia, the ASK 200 settled 37.48 points, or 0.6% to 6,375.89
In New Zealand, the NZX 50 regained 119.33 points, or 1.2%, to 10,085.75
