An employee works at the Tokyo Stock Exchange (TSE) operated by Japan Exchange Group Corporation (JPX) in Tokyo, Japan, Thursday, Jan. 13, 2022.
Toru Hanuchi | Bloomberg via Getty Images
Asia-Pacific stocks fell sharply on Thursday after the Federal Reserve opted to keep interest rates steady at the end of its two-day meeting.
Federal Reserve Chairman Jerome Powell ruled out raising interest rates, easing concerns that the central bank may not be able to control inflation.
The focus will be on yenThe week started with a volatile start amid suspicions that the government would intervene to support the currency on Monday. It last traded at 155.83 against the US dollar.
Japan’s Nikkei 225 Index fell 0.70%, while the Topix fell 0.4% in early trading.
Korean Cospi It fell about 0.1%, while the small-cap Kosdaq index fell 0.1%. Investors analyzed South Korea’s consumer price data, which showed gains slowed in April from March.
In Australia, S&P/ASX 200 Index Add 0.2%.
Hong Kong Hang Seng Index futures were at 17,460 points, The Hang Seng Index closed at 17,763.03 points.
Wall Street stock indexes closed mixed after Wednesday’s Federal Reserve meeting.
The Dow Jones index rose 87.37 points, or 0.23%. The S&P 500 fell 0.34% and the Nasdaq fell 0.33%.
—CNBC’s Samantha Subin and Hakyung Kim contributed to this report.
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