Melbourne city center skyline along the Yarra River.
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The Federal Reserve maintained expectations of three interest rate cuts and kept the federal funds rate at 5.25%-5.5%. Asian markets climbed and the Nikkei hit a record high.
The prospect of three rate cuts comes from the Fed’s “dot plot,” a closely watched matrix compiled anonymously by 19 officials on the Federal Open Market Committee. However, the chart does not provide an indication of the timing of the move.
The updated dot plot also shows three cuts in 2025 – one less than when the grid was last updated in December.
Japan’s Nikkei 225 Index It soared 1.57%, reaching a record high, while the Topix Index also set a new record, rising 1.41%.
au Jibun Bank will release February national trade data and March PMI flash data later in the day.
Korean Cospi The Kosdaq also rose 1.52%, hitting its highest level since April 2022, while the small-cap Kosdaq rose 1.48%,
In Australia, S&P/ASX 200 Index Flash data from Judo Bank showed business activity in the country grew faster in March than the previous month, opening up 0.61%.
The country’s composite purchasing managers’ index was 52.4, up from 52.1 in February.
Hong Kong’s Hang Seng Index futures were quoted at 16,716 points, opening stronger than the Hang Seng Index’s closing point of 16,543.07 points.
All three major U.S. stock indexes rose overnight, with the Dow Jones Industrial Average and the S&P 500 closing at record highs.
this Dow Jones Industrial Average rose 1.03% to close at 39,512.13 points, while S&P 500 Index It rose 0.89% to close at 5,224.62 points. Breaking through the 5,200-point barrier for the first time.
this Nasdaq Index Shares rose 1.25%, driven by large-cap technology stocks.
—CNBC’s Sarah Min and Samantha Subin contributed to this report
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